The European Central Bank has selected 36 payment service providers to participate in the digital euro pilot

The European Central Bank announced the selection of 36 payment service providers to participate in the digital euro pilot, covering both banking and non-banking institutions, spanning multiple countries in the euro area and various business models.

The pilot will start in the second half of 2027 and last for 12 months, primarily aimed at testing the technical functionality, operational processes, and user experience of the digital euro, preparing for the potential issuance of the digital euro.

This pilot will use a test version of the digital euro that closely resembles the legislative draft proposal, but it will not have legal tender status.