Revolut, SumUp and Stripe to Take Part in Digital Euro Pilot
- On Tuesday, the European Central Bank selected 36 payment service providers for a 12-month digital euro pilot, with participants including Deutsche Bank, UniCredit, Revolut and SumUp drawn from 16 euro member countries.
- The European Parliament's recent official backing of the digital euro and yesterday's launch of legislative negotiations between parliament, governments and the European Commission provided regulatory momentum for the pilot announcement.
- Selected firms will serve as distributing PSPs providing Eurosystem staff access to beta digital euro services, or as acquiring PSPs serving merchants, with the pilot spanning the ECB and 19 eurozone central banks excluding Bulgaria and Malta.
- ECB executive board member Piero Cipollone said strong market interest demonstrates private sector readiness, while the 12-month pilot starting in the second half of 2027 will test technical functionality and allow staff to make peer-to-peer and person-to-business payments.
- A final law is due by year-end 2026 to enable formal approval in early 2027 and official launch in 2029, though three participating firms previously raised concerns about cost and potential disruption to existing payment systems.
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56 Articles
The introduction of the digital euro, a virtual wallet driven by the European Central Bank (ECB) as an alternative payment to current systems, requires a long trial period to check how its use would work in real situations. And to do so, the ECB will launch with the Banco de España a pilot programme based precisely on day-to-day payments involving a group of supervisor staff, several financial institutions and payment systems, but as a selected …
Europe is preparing a new way of paying. The digital euro has not yet arrived, but has just taken another step towards its possible implementation. What does this mean? Listen to the new episode of the Economy day by day, daily podcast of the Express led by Juliana Simões
ECB taps Deutsche Bank as digital euro pilot defies US CBDC push
The European Central Bank has selected 36 payment firms, including Deutsche Bank, for a digital euro pilot as Europe presses ahead with its CBDC plans. According to a July 14 announcement from the European Central Bank (ECB), the selected payment…
The ECB has selected 36 payment service providers to test the digital euro, including Deutsche Bank, DZ Bank and Helaba. From 2027, the digital currency will be tested under real conditions.
ECB selects 36 payment providers for digital euro pilot
The European Central Bank (ECB) has selected 36 payment service providers to help test the digital euro in a year-long pilot from 2027, marking the latest milestone in the EU's effort to create a digital form of central bank money while reducing reliance on foreign payment networks.
The digital euro is on its way. In a first phase, 36 selected partners will test a trial version of the payment method.
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