European Business Wallet: the next evolution in verifiable credentials

Can you imagine a world where digital identity verifications that currently take weeks could be completed in just seconds? The European Business Wallet (EBW) is not just an extension of the EUDI Wallet, but the key piece European companies have been waiting for to unlock their full potential in the digital economy.

We’ve already witnessed how personal digital identity has reshaped the way we interact online. Now, it's time to take it one step further.

While the EUDI Wallet has empowered citizens to manage their digital identity in a secure and simple way, the European Business Wallet is designed so that companies can also operate, verify themselves and collaborate in the digital environment quickly, reliably and transparently.

A natural evolution: from citizen to company

If you recall our previous article, we explored how digital identity is evolving from centralized models to user sovereignty through Self-Sovereign Identity (SSI). In simple terms, the Business Wallet is the application of those same revolutionary principles to the corporate world.

To start at the beginning, the concept of a European Business Wallet was introduced by Ursula von der Leyen in the Competitiveness Compass 2025 as a secure digital wallet designed specifically for legal entities: companies, organizations, public administrations.

But here comes the key question: why do companies need their own wallet if there’s already a EUDI Wallet for individuals?

The answer is simple. Businesses have completely different needs: employee or visitor accreditation, legal representation, complex supply chains, client and/or supplier onboarding, multi-jurisdictional compliance… In short, a much more sophisticated trust ecosystem.

If we use an analogy, it’s as if companies could use the equivalent of a digital ID, but on steroids, thanks to verifiable attributes. This would enable them to manage not only their identity but also:

• Verifiable business credentials (licenses, certificates, commercial registry records)
• Digital mandates and powers of attorney
• Qualified electronic signatures for B2B contracts
• Automated compliance documents (A1 forms, tax declarations)
• Trust chains between organizations

Do you see the scope? A company could instantly prove its legitimacy, capabilities and authorizations in any EU country, as easily as showing your driver's license today.

A secure, immediate and universal verification that promises to forever change how European businesses connect, collaborate and grow.

A game-changing ecosystem

But here’s what really sets it apart: a wallet is only useful if it’s surrounded by a strong ecosystem. And that’s where the Business Wallet reveals its true power.

The Business Wallet ecosystem creates a decentralized trust network where:

• Companies can instantly verify their business partners
• Banks can automate KYC (“Know Your Customer”) and KYS (“Know Your Supplier”) processes
• Public administrations speed up procurement procedures
• Suppliers can prove their certifications without intermediaries

In this new landscape, identity becomes the foundation of trust in business relationships. This is possible because verifiable credentials allow you to prove who you are, what you can do and under what conditions you operate.

And the most compelling part: this shift is not theoretical. There are already real-world use cases showing how the Business Wallet can transform entire industries, driving savings, efficiency and new opportunities across Europe.

Healthcare: a revolution in medical credentials

Imagine you’re the medical director of a hospital and you need to verify the credentials of a surgeon arriving from another European country for an urgent operation.

Today, that process might take days or even weeks. With the Business Wallet, it would be resolved in seconds; the specialist would simply present their verifiable credential, which includes:

• Medical degree validated by the issuing university
• Membership in the relevant professional body
• Specializations and certifications
• Valid professional liability insurance

■ The result: a much faster process, near-instant verifications and a significant impact on efficiency and cost savings for the entire European healthcare ecosystem.

Supply chain: full and verifiable traceability

Have you ever wondered whether that “Made in EU” product truly meets all European standards? An importer could instantly verify that their suppliers and products comply with regulations, with no need for paperwork, signatures or easily falsified documents.

Financial services: frictionless KYC/KYB

European banks spend billions every year on Know Your Customer (KYC) and Know Your Business (KYB) processes; often slow, costly and frustrating for companies.

But with the Business Wallet, the entire process is redefined. When a company applies for funding, it can present a pre-verified business identity that includes:

• Validated commercial registry
• Auditor-certified financial statements
• Official tax declarations
• Automated compliance certificates

This way, the bank receives all pre-verified information and can make real-time decisions, significantly reducing onboarding time.

Public sector: smarter procurement

Every year, thousands of SMEs miss out on opportunities due to overly complex and costly public tender processes. With the Business Wallet in play, access to public procurement could be democratized. Companies would be able to automatically prove:

• Their technical and financial capacity
• Verified track records
• Compliance with social and environmental criteria
• Real-time financial solvency

By automating verification and reducing processing times by up to 60%, public administrations could save an estimated €8.1 billion in administrative costs.

The time to act is now

The European Business Wallet is not just a technological innovation: it’s the catalyst for Europe’s digital sovereignty, combining the privacy and control of Self-Sovereign Identity (SSI) with the efficiency and scalability companies need to thrive.

The question is no longer if the Business Wallet will transform the European business landscape, but when and how fast. Because the future won’t belong to those with the most documents, but to those with the most verifiable credentials.