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The Digital Euro Association (DEA) published a paper on the the potential of stablecoins in the European internet-of-things (IoT) and machine-to-machine (M2M) economies. The paper examines the benefits and drawbacks of M2M payments, provides industry use cases that highlight the potential benefits of stablecoin-enabled IoT and M2M payments, and discusses the need for further guidance from regulators to spur M2M payment growth.

Four German firms, DG Nexolution, DZ Bank, Festo and Giesecke+Devrient (G+D) have developed a prototype solution to support machine to machine (M2M) payments in offline mode using tokenized deposits. "Offline" in this case means that the machines are not connected to the public Internet or a company network. The data exchange during payment is either wired via Ethernet or wirelessly via Bluetooth, near-field communication (NFC) or a wireless local area network (WLAN). Therefore, the technology can also be used in security areas or in difficult environments such as mining., and with older machines that are not connected to networks can be integrated. The prototype demonstration involves two wallets integrated with control units typically used on machines. A smart card is used to load money into the wallet, and the machines can transfer money between them. https://www.dg-nexolution.de/dam/jcr:c658188d-5003-44f3-a431-3efa4db068d6/pressemitteilung-dg-nexolution-cbmt-projekt.pdf