eIDAS 2.0 European Business Wallet: 6 Questions Every Financial Institution Should Ask in 2026

The European Business Wallet is becoming a critical component of Europe's future digital economy. As eIDAS 2.0 introduces a new framework for trusted digital identities and verifiable credentials, businesses need secure and interoperable ways to prove who they are, verify partners and suppliers, exchange trusted information, and demonstrate compliance across borders. While much of the attention around eIDAS 2.0 still focuses on the European Digital Identity Wallet (EUDI Wallet) for citizens, the regulation also creates significant opportunities for businesses. This article explores what the European Business Wallet is, why it is being introduced, who it affects, its most important use cases, and what organizations should consider when evaluating potential providers.

What Is a European Business Wallet?

A European Business Wallet (EBW) is a digital solution that enables organizations to manage their digital identity and verified business credentials in line with eIDAS 2.0 requirements. European Business Wallets allow companies to securely store, manage, and share verified information such as organizational identities, licenses, authorizations, representation rights, and electronic attestations of attributes. They can support processes such as Know Your Customer (KYC), Know Your Business (KYB), Know Your Supplier (KYS), and meet Anti-Money Laundering (AML) and cross-border regulatory requirements by enabling businesses to exchange trusted data and digital credentials directly from authoritative sources. Many solutions also support interoperability with the  European Digital Identity (EUDI) Wallet ecosystem and trusted B2B data exchange across industries and jurisdictions.

Unlike traditional identity management systems, Business Wallets enable organizations to exchange verified information directly with partners, customers, suppliers, and authorities while maintaining greater control over their data. For more information about EBWs, please watch our explainer series. 

What Are the Different Types of Digital Wallets?

The term "digital wallet" can refer to a wide range of technologies, from mobile payment apps and cryptocurrency wallets to identity and credential wallets. While all wallets are designed to securely store and share digital information, they serve very different purposes and users. Understanding these differences is important when evaluating the role of the European Business Wallet within the broader digital identity ecosystem.

1. Mobile Payment Wallets

Who uses it: Endconsumers

Purpose: Storing payment cards, tickets, boarding passes, loyalty cards, and other everyday digital items.

Mobile payment wallets are the most familiar type of digital wallet for most people. Solutions such as Apple Wallet and Google Wallet allow users to make payments, access tickets, and manage digital passes from their smartphones. Their primary focus is convenience and secure transactions rather than identity verification or regulatory compliance.

2. Cryptocurrency Wallets

Who uses it: Individuals and organizations holding digital assets

Purpose: Managing cryptographic keys and facilitating cryptocurrency transactions.

Cryptocurrency wallets are what comes to many people's mind first when hearing the term "digital wallet." Designed to manage cryptographic keys and facilitate cryptocurrency transactions, these wallets enable individuals and organizations to access, store, and transfer digital assets. Cryptocurrency wallets are typically categorized as hot wallets, which are connected to the internet and optimized for accessibility, and cold wallets, which remain offline and prioritize security. While they are often associated with digital trust, their primary purpose is asset management rather than identity or credential exchange.

3. Credential Wallets

Who uses it: Individuals and organizations

Purpose: Storing and sharing verifiable credentials.

Credential wallets are designed to hold digital credentials that can be verified by third parties. These credentials may include professional qualifications, licenses, certifications, identity attributes, or organizational information. Credential wallets are based on emerging standards such as W3C Verifiable Credentials and form the technological foundation for many modern digital identity initiatives.

4. European Digital Identity (EUDI) Wallet

Who uses it: Individuals

Purpose: Managing and sharing verified personal identity credentials across Europe.

The European Digital Identity Wallet is being introduced under eIDAS 2.0 to give citizens and residents a secure and standardized way to prove who they are online. Users will be able to store and share verified credentials such as identity documents, educational qualifications, and other personal attestations while maintaining greater control over their personal data.

5. European Business Wallet (EBW)

Who uses it: Organizations and legal entities

Purpose: Managing and sharing verified business credentials.

The European Business Wallet extends the concept of digital identity to organizations. It enables companies to store, manage, and exchange verified business information such as organizational identities, licenses, authorizations, mandates, representation rights, and compliance credentials. European Business Wallets are expected to play an important role in Know Your Business (KYB), Know Your Supplier (KYS), Anti-Money Laundering (AML), and other regulated business processes. While the EUDI Wallet focuses on individuals, the European Business Wallet focuses on enabling trusted digital interactions between organizations.

Wallet Type	User	Example Provider	Purpose
Mobile Payment Wallet	Consumers	Apple Wallet, Google Wallet	Store payment cards, tickets, loyalty cards, and digital passes
Cryptocurrency Wallet	Individuals and organizations	Ledger, MetaMask, Coinbase Wallet	Manage cryptographic keys and digital assets
Credential Wallet	Individuals and organizations	Dock Wallet, Sphereon Wallet, Findynet Wallet	Store and share verifiable credentials
European Digital Identity (EUDI) Wallet	Individuals	National EUDI Wallet implementations (under eIDAS 2.0)	Store and share verified personal identity credentials
European Business Wallet (EBW)	Organizations and legal entities	Spherity, Bundesanzeiger Verlag and other emerging EBW providers	Store and share verified business credentials and organizational identity data

Why Is the European Business Wallet Being Introduced Under eIDAS 2.0?

As business relationships become increasingly digital and cross-border, organizations need a more efficient and trustworthy way to verify each other's identity and credentials. Today, many processes such as Know Your Business (KYB), supplier onboarding, compliance checks, and regulatory reporting still rely on manual document collection, email exchanges, and repeated verification efforts.

The European Union introduced eIDAS 2.0 to establish a common framework for trusted digital identity across member states. While much attention has focused on the European Digital Identity (EUDI) Wallet for individuals, the same principles can be applied to businesses, public authorities, products, machines, and digital services through the European Business Wallet.

By enabling companies to receive verified credentials directly from authoritative sources and share them digitally when needed, European Business Wallets can reduce administrative burden, improve data quality, strengthen compliance processes, and support trusted interoperable interactions across Europe. 

Which companies Should Pay Attention to the European Business Wallet?

The European Business Wallet is relevant for companies that need to verify identities, authorizations, and compliance information across digital channels. This includes banks, financial institutions, insurers, payment providers and public authorities conducting Know Your Business (KYB), Anti-Money Laundering (AML), onboarding, and due diligence processes. A European Business Wallet can streamline these processes by enabling organizations to share verified credentials directly from authoritative sources.

It’s also relevant for manufacturers, healthcare and life sciences companies, suppliers, logistics providers, telecommunications companies and data space ecosystems, where trusted information like compliance documents, certifications, licenses, or organizational information exchange between different parties is essential. Any organization involved in cross-border business activities may benefit from a more standardized and interoperable approach to digital trust.

As Europe's digital identity ecosystem evolves, the European Business Wallet is becoming a foundational tool for establishing trust between organizations, reducing administrative burdens and enabling secure, interoperable digital collaboration.

What Are the Most Important European Business Wallet Use Cases?

While new use cases are still emerging, several applications are already attracting significant attention from financial institutions, regulators, and industry stakeholders.

Know Your Business (KYB)

One of the most frequently discussed use cases is Know Your Business (KYB). Financial institutions and other regulated organizations can share verified business credentials from authoritative sources  instead of repeatedly submitting the same documents to different institutions, reducing manual document collection and accelerating onboarding processes. Beyond onboarding, European Business Wallets can support ongoing due diligence by providing access to up-to-date and verifiable business information, reducing the need for repeated document requests and manual verification.

Anti-Money Laundering (AML) and Compliance

AML and compliance teams often spend considerable time collecting, validating, and updating business information. By providing access to trusted and verifiable credentials, European Business Wallets can improve data quality, reduce duplication of effort, and support ongoing compliance monitoring, especially with the AMLR coming up.

Supplier and Partner Onboarding

Organizations frequently need to verify suppliers, contractors, distributors, and business partners before entering into commercial relationships. A European Business Wallet enables companies to present verified licenses, certifications, tax information, and other business credentials in a standardized format, simplifying onboarding and due diligence processes.

Cross-Border Business Transactions

Operating across multiple jurisdictions often requires organizations to repeatedly provide evidence of their legal status, authorizations, and compliance credentials. The European Business Wallet supports cross-border trust by enabling businesses to share verified information that is recognized across the European Union.

Regulatory Reporting and Audits

Many industries are subject to regular audits, reporting requirements, and regulatory reviews. Rather than gathering documents from multiple internal systems, the European Business Wallet provides auditors, regulators, and supervisory authorities with trusted and up-to-date credentials when required.

Representation and Authorization Management

European Business Wallets can also help organizations prove who is authorized to act on behalf of a company. Verified representation rights, mandates, and authorizations can support contract signing, account management, procurement processes, and other business interactions where proof of authority is required.

Which Organizations Are Building Business Wallets Today?

As the European Business Wallet market is still emerging, most providers do not yet position themselves explicitly as European Business Wallet vendors. Instead, many are digital identity, or trust service providers developing capabilities that support the future eIDAS 2.0 and EUDI ecosystem. The best provider ultimately depends on each organization's use case, regulatory requirements, and existing technology landscape. When evaluating solutions, companies should look for support for eIDAS 2.0 and EUDI Wallet readiness, verifiable credentials, business identity management, enterprise system integration, and secure data exchange. The following organizations are among the most notable players helping shape Europe's next generation of trusted digital business interactions.

1. Spherity

Spherity focuses with its European Business Wallet EIDA on enterprise and organizational identity, helping companies manage verified business credentials, delegation rights, compliance information, and trusted data exchange aligned to eIDAS 2.0. The company's European Business Wallet EIDA approach is designed for business-to-business interactions, KYC, KYB, KYS processes, ESG and regulatory compliance, Digital Product Passports, and participation in trusted data ecosystems.

Spherity also offers a Digital Product Passport solution that integrates with the EU Business Wallet, enabling companies to issue, receive, and present verifiable credentials for products and legal entities. This supports trusted, tamper-resistant, and access-controlled product data exchange across the European Single Market.

2. Verimi

Verimi is a German digital identity provider and is preparing organizations for the EUDI Wallet ecosystem. Its focus lies on digital identity verification, authentication, customer onboarding, electronic signatures, biometric authentication for regulated industries such as banking and telecommunications. The company is involved in the development of the European Digital Identity (EUDI) Wallet ecosystem and offers an EUDI Wallet Gateway that enables organizations to connect enterprise systems to EUDI wallets in Europe in a secure and future-proof way. While Verimi's primary focus is on individual digital identities and customer-facing use cases, its solutions help organizations prepare for eIDAS 2.0 and trusted digital interactions across public and private services.

3. Lissi

Lissi specializes in decentralized identity, digital wallets and verifiable credential solutions based on European digital identity standards. The company supports eIDAS 2.0-compliant identity processes. Rather than offering an end-user consumer app, it  provides API-based infrastructure that enables organizations to connect enterprise systems with the future EUDI Wallet ecosystem with their Lissi EUDI-Wallet Connector. This makes Lissi particularly relevant for companies that want to become wallet-ready without developing all EUDI Wallet integration components themselves.

In addition, the Lissi ID-Wallet supports the storage and presentation of verifiable credentials, including identity, employee, certificate, and access credentials. With its focus on interoperability, credential exchange, and digital trust, Lissi helps organizations prepare for secure and compliant digital interactions across the emerging European identity ecosystem.

4. InfoCert

As one of Europe's largest qualified trust service providers, InfoCert combines digital identity, electronic signatures, trust services, and eIDAS-related solutions. The company is actively supporting organizations preparing for the EUDI Wallet ecosystem and trusted digital transactions across Europe.

5. walt.id

walt.id provides open-source digital identity and wallet infrastructure for developers, enterprises, and public sector organizations across Europe. The company offers modular, developer-first toolkits and API-first frameworks designed to issue, manage, and verify W3C Verifiable Credentials and decentralized identifiers (DIDs). Rather than focusing solely on consumer-facing applications, walt.id delivers specialized Organizational Wallet and Business Wallet infrastructure components. These enable enterprises to integrate eIDAS 2.0-compliant business identity management, verifiable credential issuance, and enterprise system connections directly into their existing IT architectures.

6. Sphereon

Sphereon specializes in enterprise digital trust infrastructure and Verifiable Credential management software. Designed for seamless integration with corporate systems via API-first architectures, Sphereon enables organizations to issue, store, and verify digital credentials within complex business processes. The company’s technology stack supports sovereign data exchange, business identity verification, and privacy-preserving data management. By aligning with European digital identity frameworks and emerging data space standards, Sphereon helps enterprises build interoperable trust mechanisms for cross-border B2B transactions and supply chain verification.

7. Bundesdruckerei

As Germany’s federal security printing company and a leading Qualified Trust Service Provider (QTSP), Bundesdruckerei (alongside its subsidiary D-Trust) provides the foundational trust infrastructure for eIDAS 2.0 implementation. While historically focused on national identity documents, eID schemes, and qualified electronic signatures and seals, Bundesdruckerei plays a key role in the evolving European Business Wallet ecosystem. The organization provides high-assurance trust anchors, qualified certificates, and authentic source connections required to issue legally binding organizational credentials, electronic seals, and verified corporate identity data under European regulations.

8. iGrant.io

iGrant.io focuses on personal and organizational data exchange, consent management, and decentralized identity infrastructure aligned with European data regulations. The company provides verifiable credential and wallet solutions tailored for cross-border B2B data spaces, regulatory compliance, and ecosystem interactions. By combining corporate identity management with fine-grained data governance, consent control, and privacy-by-design mechanisms, iGrant.io enables businesses to exchange verified organizational attributes, compliance attestations, and operational data securely across multi-party data ecosystems.

Conclusion

Under eIDAS 2.0, the European Business Wallet will fundamentally transform the way in which businesses verify identities, secure supply chains and meet regulatory requirements (such as KYB, KYS and AML). Companies that address the integration of verifiable credentials and enterprise wallet infrastructures at an early stage will not only secure a regulatory head start, but will also significantly reduce their operational compliance costs.

Would you like to find out more about how Spheritys’ wallet solution can make your business eIDAS 2.0-ready and automate your KYB processes in a verified manner? Speak to our experts in digital corporate identities.