ECB selects 36 payment firms for digital euro pilot starting 2027

The European Central Bank announced that it has chosen 36 payment‑service providers (PSPs) from more than 50 applicants to take part in a year‑long pilot of a central‑bank digital euro. The participants, a mix of large banks such as Deutsche Bank and UniCredit and fintech firms including Adyen, Revolut, Stripe and Payone, represent a broad geographic spread across the euro area. The pilot will run for twelve months beginning in the second half of 2027 and will be carried out by the ECB together with the national central banks of 19 euro‑zone members.

A beta version of the digital euro – technically similar to the future design but without legal‑tender status – will be used to test technical infrastructure, operational processes and user experience for both peer‑to‑peer and merchant payments. The exercise aims to support the preparatory work for a possible issuance in 2029, strengthen the euro‑zone’s payment ecosystem and reduce reliance on US‑based payment providers. ECB Executive Board member Piero Cipollone said the strong market interest shows the private sector’s readiness to contribute to “a safe, efficient and inclusive digital euro”.