ECB Says Digital Euro Pilot Will Bring 36 Payment Providers Into 2027 Testing

TL;DR: In a November 5 speech, the European Central Bank said 36 payment service providers have been selected for a planned digital euro pilot in the second half of 2027. The pilot is intended to last 12 months, while legislation and any eventual decision to issue a digital euro remain separate steps. Europe’s digital euro project has moved into a more practical phase of planning, but it is not launching as a public currency today. The European Central Bank has outlined how its coming pilot would involve banks and other payment providers testing the proposed system. In the ECB’s November 5 speech on the future of money , the bank said it had selected 36 payment service providers after receiving more than 50 applications.

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