The ECB is set to begin selecting EU-licensed payment providers for its digital euro pilot this quarter, with the 12-month pilot set to kick off in the second half of 2027.
The European Central Bank (ECB) is moving closer to a pilot for a digital euro, with Executive Board member Piero Cipollone outlining plans to begin selecting payment service providers (PSPs) in early 2026 ahead of a 12-month test scheduled for the second half of 2027.
Cipollone on Wednesday held an executive committee meeting of the Italian Banking Association. He said the pilot would involve a limited number of payment service providers, merchants and Eurosystem staff. Selection of participating providers is expected to start in the first quarter of 2026.
Cipollone said the digital euro will be designed to ensure it protects European card schemes and keeps banks at the core of the Eurozone payments system, according to Reuters.
