Reducing the bureaucratic burden and streamlining the EU’s rulebook have the potential to unleash Europe’s innovation potential and enhance its competitiveness. An EU Business Wallet as part of a full-fledged EU digital identity framework can facilitate B2G and B2B interactions. It will contribute to reduce bureaucracy while augmenting trust. At national and European level, policies must be taken to ensure that businesses can reap the EUBW’s potentials.