The European Central Bank has chosen 36 payment service providers to participate in a pilot programme for its digital euro, narrowing the field from more than 50 applicants in a critical step toward a potential central bank digital currency.
The pilot is scheduled to begin in the second half of 2027 and run for 12 months, testing a beta version of the digital euro with thousands of staff from the ECB and 19 of the euro zone's 21 national central banks. The beta iteration will not carry legal tender status.
Selected firms span major European lenders and fintechs, including Deutsche Bank and UniCredit alongside challenger bank Revolut. Italy is represented by eight participants, among them Poste Italiane, Banca Monte dei Paschi di Siena, Intesa Sanpaolo's Isybank, Nexi, Satispay, and Banca Sella, while German participants include DZ Bank, Helaba, and Payone.