ECB Picks 36 Providers for 12-Month Digital Euro Pilot Starting in 2027
Updated
Updated · Markets Media · Jul 15
ECB Picks 36 Providers for 12-Month Digital Euro Pilot Starting in 2027
2 articles · Updated · Markets Media · Jul 15
Summary
More than 50 applicants competed for 36 slots in the ECB’s digital euro pilot, which will run for 12 months from the second half of 2027.
The beta trial will test technical functions, operational processes and user experience for a possible digital euro, but the pilot currency will not have legal tender status.
Selected banks and non-bank payment firms will act as distributors, acquirers or both, enabling ECB and national central bank staff to make online, offline, in-store and e-commerce payments.
Nineteen euro-area national central banks will join the ECB in the exercise, using merchants such as cafeterias, restaurants and e-commerce sellers to simulate everyday transactions.
The pilot is part of the ECB’s preparatory work for a potential digital euro issuance, with providers now beginning setup work alongside their national central banks.