The European Central Bank (ECB) has chosen 36 banks and payment companies for its digital euro pilot, a key move toward testing the central bank digital currency before making a final decision. The pilot will run for a year starting in the second half of 2027, using a beta version of the digital euro to test real-world payments.
A potential public launch in 2029 is still the ECB’s goal. Only 36 of the more than 50 groups who requested to participate in the program were selected based on eligibility and to guarantee widespread representation within the European Union.
Major financial institutions and payment processors including Deutsche Bank, Revolut, UniCredit, Adyen, SumUp, and Worldline are among the chosen group.
The pilot will bring together the ECB and 19 national central banks, letting staff use beta digital euro accounts for daily transactions.
The pilot will test a wide range of payment situations, such as person-to-person transfers, in-store and online purchases, mobile payments, and offline transactions. Restaurants, cafeterias, and online merchants will join in to create realistic commercial settings.
The ECB explained that the beta version will look much like the planned final design, but it won’t be legal tender during testing. The goal is to assess technical performance, operations, and user experience before deciding on a full launch.
The central bank sees this project as a key move to strengthen Europe’s control over its payment systems.
Europe needs more control over its own payment infrastructure, according to officials who have frequently expressed worries about the growing power of private dollar-backed stablecoins and international payment networks.
Piero Cipollone, a member of the ECB Executive Board, praised the robust industry reaction, stating that it shows widespread corporate sector involvement in promoting a safe, effective, and inclusive digital euro environment.
Even with the project’s progress, legislative approval is still needed before the digital euro can launch. European lawmakers are still discussing the legal framework, and the ECB Governing Council will decide on issuing the CBDC after the legislation and pilot are finished.
The 2027 pilot should offer useful insights into how a digital euro might work alongside cash, commercial bank money, and private digital assets. This will help Europe decide the future role of central bank digital currency in its financial system.
36 payment service providers from across the euro area have been selected for the digital euro pilot.
Starting in the second half of 2027, the 12-month exercise to test the digital euro’s features will take place at the ECB and 19 national central banks https://t.co/B88b6doEza pic.twitter.com/9MC1OJydRi
— European Central Bank (@ecb) July 14, 2026
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