ECB picks 36 payment firms for digital euro pilot in 2027

The European Central Bank has selected 36 payment service providers from more than 50 applicants to test its digital euro. Adyen and Deutsche Bank are in the group. Revolut also made the cut. The ECB sought diversity in business models, company sizes, and geographic representation across the euro area, the central bank said.

The pilot is scheduled to start in the second half of 2027 and run for 12 months. If the tests go well and regulators sign off, the ECB aims to be ready to issue the digital euro by 2029. Applications closed on May 14, 2026. The ECB announced the selected firms on July 14.

The pilot follows a preparatory phase that ended in October 2025. During that period, the ECB built the technical and operational frameworks the pilot will now test. The European Parliament's ECON committee voted 43-14 on June 23, 2026, to advance the legal framework for the digital euro.

The tests will cover person-to-person payments, point-of-sale purchases at physical retailers, and online payments. Selected merchants and Eurosystem staff will participate. The exercise is voluntary and unremunerated.

The ECB has said the digital euro is intended to reduce Europe's reliance on non-European payment networks. The 12-month pilot will produce data through late 2028, leaving a narrow window for final adjustments and regulatory approval before the 2029 issuance target.