ECB Selects 36 Companies for Digital Euro Pilot Program Starting in 2027

The European Central Bank (ECB) has selected 36 payment service providers for its digital euro pilot program set to begin in the second half of 2027. Following a shift from planning to testing phase, the ECB plans a 12-month beta test involving fintech firms like Stripe and Revolut, as well as traditional banks such as Deutsche Bank and UniCredit. The participants include 7 Italian institutions, 5 German entities, and 3 each from Portugal and Greece, with some companies offering services across borders. Nineteen central banks, including Belgium, Germany, France, Italy, Spain, and the Netherlands, will collaborate on the initiative, focusing on system testing ahead of token issuance. ECB Executive Board member Piero Chiolorino highlighted the private sector's engagement and anticipated deeper collaboration during the pilot phase.