ECB Selects 36 Payment Firms for Digital Euro Pilot

The European Central Bank (ECB) has taken another step toward developing a digital euro, selecting 36 payment service providers (PSPs) to participate in the next testing phase of the project. According to an official announcement published on Tuesday, the selected participants include major fintech companies such as Stripe and Revolut, alongside established financial institutions including Deutsche Bank, UniCredit and BPCE.

The initiative marks the transition of the digital euro from the planning stage into practical testing. It also comes at a time when global approaches to central bank digital currencies (CBDCs) continue to diverge. While Europe advances its CBDC project, the United States has moved to prevent the Federal Reserve from issuing a digital dollar.

Italy leads participation in the pilot

The ECB launched the selection process earlier this year after inviting payment companies across the eurozone to apply. More than 50 organizations expressed interest, with the 12-month pilot scheduled to begin during the second half of 2027. Italy secured the largest representation in the program, with seven companies selected, including UniCredit, Poste Italiane, Nexi Payments, Banca Sella, Banca Monte dei Paschi di Siena, Isybank and Numia.

Germany follows with five participants, while Portugal and Greece each have three. The ECB said the geographical mix is intended to create a diverse testing environment, allowing providers to offer pilot services beyond their domestic markets.

Private sector to play key role

The digital euro pilot will involve the ECB, the central banks of 19 eurozone countries, payment service providers and merchants working together to evaluate the system before any potential rollout. Participants will have different responsibilities throughout the trial. Some companies will focus on enabling users to access beta digital euro services, while others will help merchants integrate and accept digital euro payments. Several providers are expected to perform both roles.

Commenting on the initiative, Piero Cipollone, ECB Executive Board member and chair of the digital euro task force, said the strong response highlights growing industry support for the project. “We look forward to deeper engagement as we work with and learn alongside European payment service providers in developing a secure, efficient and inclusive digital euro,” Cipollone said.

Sources:

https://www.ecb.europa.eu/press/pr/date/2026/html/ecb.pr260714~8cd07d9d45.en.html

https://cointelegraph.com/news/ecb-36-payment-providers-digital-euro-pilot

https://www.ecb.europa.eu/euro/digital_euro/pilot/html/index.en.html#latest