ECB Picks 36 Firms for 12‑Month Digital Euro Pilot

The European Central Bank has chosen 36 payment service providers from across the euro area for a 12‑month digital euro pilot due to begin in the second half of 2027. The pilot will use a beta version of the digital euro to test payment functions, operational processes and user experience across the ECB and 19 national central banks.

The 36 participants were selected from more than 50 applicants and include traditional banks and non-bank platforms. Named participants include Deutsche Bank, UniCredit and BPCE, alongside digital-native firms such as Revolut Bank UAB, Stripe Technology and Adyen N.V. Each participating firm will act as a distributing payment service provider, an acquiring provider, or both.

Distributing providers will give Eurosystem staff access to beta digital euro accounts and payment services for testing. Acquiring providers will enable selected merchants to accept beta digital euro payments at checkout.

The pilot will involve Eurosystem staff, e-commerce merchants and physical businesses, including cafeterias and restaurants. Tests will cover person-to-person and person-to-business payments, conducted online and offline, including transactions at physical points of sale.

The ECB said the pilot is intended to support technical preparations for a potential retail central bank digital currency and to refine its technical design prior to any decision to issue. The bank’s roadmap targets readiness for a possible first issuance in 2029, conditional on adoption of digital euro regulation in 2026. A final decision on issuance will be taken only after the legislation is approved.

Piero Cipollone, a member of the ECB executive board, noted in a statement that strong market interest reflects private sector readiness to engage with the digital euro project. Isabel Schnabel, another executive board member, has argued that a digital euro is needed to preserve the role of central bank money as the use of stablecoins grows and that central bank digital currencies, together with robust regulation, could address financial stability risks and reduce reliance on non‑European payment providers.

The pilot is a technical testing phase. The ECB and national central banks will use the results to assess user experience, merchant acceptance and offline payment capabilities and to determine how a digital euro could operate alongside cash and existing electronic payments.