European Commission drafts European Business Wallet for companies

The European Commission has introduced a first draft for the European Business Wallet (EUBW), a digital infrastructure designed for legal entities. Part of the EU’s ‘Digital Package’, the EUBW aims to reduce administrative burdens and bureaucracy costs for European companies.

The wallet is intended to function as a counterpart to the European Digital Identity (EUDI) Wallet, which is designed for individual citizens. The EUBW will allow businesses to provide electronic identity proofs, certify attributes, and engage in legally secure communications. Key applications include simplifying contract negotiations, onboarding processes, and interactions with government authorities.

This initiative follows the updated eIDAS regulation, which requires EU member states to provide EUDI Wallets to all natural persons by the end of 2026.