The European Central Bank (ECB) has chosen 36 payment service providers to participate in the pilot program for its digital euro project. The pilot, set to begin in the second half of 2027, will test the digital euro’s technical functionality and operational processes.
Digital Euro Pilot Details
The ECB has been working on the digital euro for years, aiming to reduce the euro zone’s reliance on U.S.-based payment providers. The pilot will involve staff from the ECB and participating national central banks, as well as e-commerce merchants and everyday services. The digital euro used in the pilot will be a beta version, functionally and technically close to the final product but without legal tender status.
More than 50 companies applied to participate in the pilot, with top names like Deutsche Bank and UniCredit selected alongside fast-growing digital banks like Revolut. The pilot will take place at the ECB and 19 of the euro zone’s 21 central banks, with Bulgaria and Malta not participating.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
