The EU has officially put forward its proposal for the EU Business Wallet, and we’ve had a lot of questions about what it actually is and what it changes for businesses.
Here’s a simple breakdown of the fundamentals based on key information we received from two experts involved in the project.
What is the EU Business Wallet?
The EU Business Wallet is a new, EU-wide digital identity framework for companies. It allows businesses to identify themselves, exchange verified data, and communicate securely with public authorities and other organizations across all EU member states.
One important point up front: public sector bodies will be required to accept EU Business Wallets, but private companies are not forced to use them. The expectation is that adoption will happen naturally, because the wallet removes friction, reduces administrative work, and improves trust in cross-border interactions.
At its core, the Business Wallet is about making it easier for companies to operate across Europe without repeatedly proving who they are in slightly different ways in every country.
A shift from documents to verifiable business data
Today, most business interactions still rely on documents: PDFs, scanned certificates, notarized copies, and endless email attachments.
The Business Wallet introduces a different model. Instead of sharing documents, businesses share verifiable data in the form of electronic attestations issued by authoritative sources, such as company registries or trust service providers.
This means relying parties can verify information cryptographically and automatically, without manually reviewing documents or questioning their authenticity. It also directly addresses a growing problem: documents are increasingly easy to fake or manipulate, especially with modern AI tools.
Secure communication as a first-class capability
A key feature of the EU Business Wallet is a built-in secure communication channel based on Qualified Electronic Registered Delivery Services.
This allows businesses and public authorities to:
- Send and receive documents and data with legal effect
- Prove who sent and received information
- Rely on a single, standardized solution across the EU
In practice, it replaces many of today’s fragmented, country-specific systems and informal email-based exchanges with a legally recognised, EU-wide communication layer.
Mandatory acceptance by the public sector
Once the regulation enters into force, public sector bodies will be required to accept EU Business Wallets for:
- Identification and authentication
- Signing and sealing documents
- Submitting official documents
- Sending and receiving notifications
Acceptance is expected 24 months after entry into force, with a 36-month transition period for supporting the wallet as an official communication channel. This requirement alone is expected to drive significant adoption, even without private-sector mandates.
Who can provide EU Business Wallets
EU Business Wallets can be provided by:
- EU-established private companies that meet strict security and governance requirements
- EU institutions, bodies, and agencies
Providers must comply with eIDAS trust service requirements, cybersecurity rules (including NIS2), and supervisory oversight. Existing Qualified Trust Service Providers benefit from a lighter process, since they already meet many of these obligations.
A public EU-level trust list will make it clear which providers are officially recognized.
The EU Business Wallet represents a structural shift in how businesses prove who they are, share information, and interact with public authorities across Europe.
More to come soon as pilots scale and implementation details take shape.
