For the past three years, the NGI Taler project has worked towards the goal\nof making Taler legally available in the EU as an online payment system for\neveryday use.\nToday we can share that Taler Operations AG is being founded in Bochum.\nThe new German company is going to operate Taler in Euro,\nenabling payments with Taler first in Germany, then in the Euro-zone.\nThe next steps towards that goal are to apply to BaFin,\nGermany's financial supervisory authority,\nfor a licence as an e-money issuer.
\nThis post explains why this company is needed,\nwhat changed in the NGI TALER consortium,\nand how citizens who want to see Taler succeed can help, including as investors.
\nTaler is a payment system, not a currency, but usable for any currency.\nAt its core, it issues bearer tokens to represent value, like coins,\nand this renders Taler as electronic money which falls under EU regulation:\nAny institution that issues electronic money (EMI) for Euros must be a bank or acquire a dedicated licence.
\nIn the original plan of the NGI TALER project,\nthe Bochum-based GLS Bank took on the role of the e-money issuer for Taler,\nand worked towards the deployment of the Taler payment system in Germany\nwith support from the other members of the NGI TALER consortium.\nHowever, in January 2026 GLS made the decision to not pursue this role further,\nfor reasons unrelated to Taler as presented in their statement (gls.de/taler).\nSince then, GLS and the other members of the NGI TALER consortium worked out the best way forward\nto achieve the project's goal to make Taler available in the Euro-zone.
\nThe outcome is the announcement today.\nThe new company Taler Operations AG will be set up\nto apply for an e-money licence and take over the role\noriginally intended for GLS (who will remain a consortium member in a supporting role).
\nWe regret that the original plan did not work out.\nIntegrating a new kind of payment system into an existing bank’s processes,\ncompliance framework and IT is hard, and banks have to set priorities.\nWe are grateful to GLS for its work in the project and for staying involved.\nAnd we also think the new arrangement has a real advantage:\nthe institution operating Taler in Euro will be focused entirely on Taler,\ninstead of fitting it into a larger bank’s product portfolio and process constraints.
\nLegal status:\n: Taler Operations AG is a German stock corporation in formation, seated in Bochum,\n and a subsidiary of Taler Systems SA (Luxembourg).
\nPurpose:\n: Operating a GNU Taler exchange in Germany, for the Euro,\n so that citizens can pay with Taler\n and merchants can accept it.
\nReach:\n: After establishing legal operations in Germany,\n Taler will become usable across the single market,\n even if Taler Operations AG will initially only promote it in Germany.
\nTiming:\n: Operations can only begin once BaFin has granted the authorisation.\n A launch date will be announced after that happens.
\nNext steps:\n: - An application to BaFin for authorisation as an electronic money institution (EMI).\n - Securing funding via investors, see below, to become operable.
\nWe stress that GNU Taler is and stays free software.\nThe licensed company operates a service;\nTaler, the protocol suite, and its reference implementation GNU Taler remain open and free.
\nThe NGI TALER project continues:\ndevelopment, security reviews, integrations from the open calls,\nand the Swiss deployment all go on as before.\nThe change concerns who will operate the Taler payment system in Euro in Germany,\nbut not the direction of the project.\nWe will report on the progress of the e-money licence application.
\nIf you want to help,\nyou can tell merchants and organisations you care about that Taler is coming.\nYou can try the Taler wallet\nwith the demo site and report issues.\nYou can also contribute to the software.
\nAnd you can invest to help us fund the launch\nand, if successful, benefit as a shareholder:
\nGetting an e-money licence takes capital.\nThe law sets minimum own funds for EMIs,\nand BaFin also expects a credible business plan,\nstaffing, compliance and IT security before granting authorisation.\nTaler Operations AG is therefore raising capital now.
\nWe are looking for investors who:
\nWe are especially interested in investors who share the values behind Taler:\nprivacy for buyers, transparency for taxable income, no lock-in, and payments as public-interest infrastructure.
\nContact us at\ninvest@taler-systems.com\nto be given access to further business information.
","headings":[{"level":1,"text":"Getting ready to operate Taler in Germany","id":"getting-ready-to-operate-taler-in-germany"},{"level":2,"text":"Why Taler needs a regulated operator","id":"why-taler-needs-a-regulated-operator"},{"level":2,"text":"What Taler Operations AG will do","id":"what-taler-operations-ag-will-do"},{"level":2,"text":"What this means for the community","id":"what-this-means-for-the-community"},{"level":2,"text":"For investors","id":"for-investors"}]}}