ECB Picks 36 Banks and Fintechs to Test Digital Euro in 2027 Pilot #

The European Central Bank has named 36 payment service providers from across the euro area for its digital euro pilot programme, which is scheduled to begin in the second half of 2027. The ECB has said it hopes to issue the currency publicly by 2029.

The selection followed a call for expressions of interest issued in March 2026 that drew more than 50 applications. The ECB said the response reflected strong market engagement. Applicants were assessed against pre-defined eligibility criteria. The final group includes major commercial banks such as Deutsche Bank and UniCredit, digital-first firms including Revolut, Stripe, Adyen, SumUp, and Satispay, and payment infrastructure groups such as Worldline.

The 12-month pilot will involve 19 euro area national central banks in countries including Germany, France, Estonia, Cyprus, and Finland. Two euro area members, Bulgaria and Malta, are not included.

Testing will use a beta version of the digital euro that is functionally and technically close to the design in the draft legislation but without legal tender status. Scenarios will include person-to-person transfers online and offline, person-to-business transactions at physical points of sale (including mobile-based “Software Point of Sale” terminals), and e-commerce payments. Pilot participants will be ECB and national central bank staff, e-commerce merchants, and businesses such as cafeterias and restaurants.

Selected providers will fall into two categories. “Distributing” providers will give Eurosystem staff access to beta digital euro services, including account setup and payments. “Acquiring” providers will work with selected merchants to allow them to accept beta digital euro transactions.

ECB Executive Board member Piero Cipollone, who chairs the High-Level Task Force on a digital euro, said the level of private-sector participation shows the project is ready to move forward. The pilot is part of preparatory work ahead of a potential issuance, which depends on EU legislation being enacted, a process the ECB has said it hopes to see completed by the end of 2026. The ECB said it will publish regular progress updates through a dedicated digital euro pilot webpage.

Source: European Central Bank