ECB Selects 36 Payment Firms for Digital Euro Pilot Starting in 2027

Highlights:

• The digital euro pilot includes 36 providers and begins during the second half of 2027.
• Deutsche Bank, Revolut, UniCredit, Stripe, Adyen, and Worldline joined the selected group.
• The ECB targets possible issuance in 2029, subject to legislation and Governing Council approval.

The European Central Bank has moved its digital currency project closer to real-world testing. According to the ECB’s website, 36 payment providers were selected for a year-long trial starting during 2027’s second half. Together, they will test everyday payments across several euro-area markets.

Digital Euro Pilot Moves into Practical Testing

According to an official announcement published Tuesday, the digital euro pilot will run for 12 months across the ECB and 19 national central banks. Staff members will use a beta version for transfers, shop purchases, and online payments. Meanwhile, selected merchants will accept payments in restaurants, stores, cafeterias, and e-commerce settings. The trial will also cover mobile payments and software-based point-of-sale systems.

The beta currency will closely match the design under the proposed European Union legislation. However, it will not hold legal tender status during the testing period. Rather, the ECB will assess technical performance, operating processes, and customer experience. The results will then be fed to the officials to fine-tune the system.

More than 50 companies applied after registration opened in March 2026. Later, officials chose 36 firms based on eligibility requirements and market coverage. The group includes Deutsche Bank, UniCredit, Revolut, Adyen, SumUp, and Worldline. Stripe, BPCE, Nexi Payments, and several regional banks also joined.

Providers will take different roles throughout the test. Some firms will help staff open beta accounts and make payments. Others will connect merchants and process incoming transactions. Moreover, several participants will manage both customer access and merchant acceptance.

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

Banks and Fintech Firms Prepare for Central Bank Trial

Italy contributes seven providers, giving it the largest national group. Germany follows with five firms, while Portugal and Greece each contribute three. Still, companies may offer services beyond their home countries. That approach gives the ECB wider coverage and more varied feedback.

The digital euro trial will operate through central banks in Belgium, Germany, Estonia, Ireland, Greece, Spain, and France. It will also include Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, and the Netherlands. Austria, Portugal, Slovenia, Slovakia, and Finland will take part. Bulgaria and Malta will not host pilot operations.

ECB staff and national central bank employees will act as consumers. They will make person-to-person transfers both online and offline. Moreover, they will pay participating businesses at physical locations and online stores. Merchants will include everyday service providers rather than only financial institutions.

The ECB says strong application numbers show broad private-sector interest. Piero Cipollone said payment firms want to help shape Europe’s future payment system. He chairs the ECB task force overseeing the project. The central bank plans regular progress updates through its pilot webpage.

Europe Targets Possible Digital Euro Launch in 2029

The ECB has worked on the digital euro for several years. First, it completed a two-year investigation phase. Then, it moved through a two-year preparation phase before announcing the next development stage in October last year. Now, the project is moving from design work toward operational testing. 

Moreover, the ECB still needs European lawmakers to complete the supporting legal framework. Afterward, the Governing Council must separately approve any final issuance. The institution currently targets 2029 for a possible first release. But that timeline depends on legislation reaching completion during 2026.

Europe’s project also reflects concerns about foreign payment dependence. The ECB wants stronger regional control over essential payment infrastructure. Meanwhile, dollar-backed stablecoins have gained wider use across digital markets. Officials fear that the trend could increase dollar influence within Europe’s financial system.