New European Business Wallets

The European Union is introducing the EU Business Wallets as part of its 2025 broader Digital Package. This initiative aims to provide companies with a secure, standardised digital identity recognised across all Member States:

“(…) the package includes a digital omnibus that streamlines rules on artificial intelligence (AI), cybersecurity and data, complemented by a Data Union Strategy to unlock high-quality data for AI and European Business Wallets that will offer companies a single digital identity to simplify paperwork and make it much easier to do business across EU Member States”.

European Business Wallets are designed to simplify compliance and administrative procedures, particularly for companies operating in multiple jurisdictions.

However, it is important to set out that “Companies will not be obliged to use the European Business Wallets. The Regulation places obligations solely on public sector bodies to accept its core functions, while companies remain free to decide whether to adopt the wallets for their commercial operations or interactions with public authorities”.

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