Tag Archives: Cooperative Bank of Chania

Bank of Chania to participate in digital euro pilot

The dynamic outlook of the Cooperative Bank of Chania is demonstrated by its choice by the Eurosystem* to participate in the pilot programme for the development and trialling of the digital euro, according to a recent article in the Haniotika Nea. The Cretan bank will be one of 36 European banks and providers of payments services which will contribute to shaping the future of electronic financial transactions in Europe.

A modern five-storey building with stone and glass façades, stands on a corner plot on the centre of Chania.
The headquarters of the Cooperative Bank of Chania on Eleftheriou Venizelou Street in Chania. Photo: Joehawkins, Wikipedia.

The choice was made after a call for expressions of interest which began in March, the assessment being based on technical, operational and organisational criteria set by the Eurosystem. The pilot programme is expected to start in the second half of 2027 and will last for 12 months. The Cooperative Bank of Chania will participate as a provider of payment services, in collaboration with the Bank of Greece and in accordance with an operational system determined by the Eurosystem.

The Bank’s participation on this enterprise confirms its strategic orientation towards innovation and the digital transformation of financial services, as well as its commitment to offering secure payment solutions to the customers and businesses which it serves. Commenting on the Bank’s participation in the digital euro, the Chairman of the Management Board Michalis Marakakis said:

“The choice of the Cooperative Bank of Chania to participate in the pilot programme for the digital euro is a special honour and recognition of our progress in the field of innovation and modern payments services. Our Bank is actively participating in the design of the new digital infrastructures of the European economy, with the aim of offering our clients secure, reliable and progressive financial solutions.

The Managing Director sits at his desk looking at camera, with a computer screen and a window behind.
“Our Bank is actively participating in the design of the new digital infrastructures of the European economy,” says the Bank of Chania’s Chairman Michalis Marakakis

“The digital euro is expected to constitute an important step for the future of financial transactions and our participation in this process strengthens the Bank’s role as a modern and dynamic financial organisation with a strong presence in the local community and the Greek market.”
(Haniotika Nea, 22/07/26)

*”The Eurosystem, which comprises the European Central Bank and the national central banks of the Member States whose currency is the euro, is the monetary authority of the euro area. We in the Eurosystem have as our primary objective the maintenance of price stability for the common good. Acting also as a leading financial authority, we aim to safeguard financial stability and promote European financial integration.” (www.ecb.europa.eu)