We break down everything known about the testing and launch timeline for the digital euro.
The European Central Bank has selected 36 payment service providers to participate in the digital euro pilot. Participants include Deutsche Bank, Revolut, Stripe, UniCredit, Adyen, SumUp, and Worldline.
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The pilot will launch in the second half of 2027 and run for 12 months. The ECB and 19 eurozone national central banks will take part.
Central bank staff will act as users, and select online stores, restaurants, cafes, and other merchants will accept payments. A final decision on issuing the digital euro hasn’t been made–the ECB aims to be ready for a potential launch by 2029.
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How the Digital Euro Pilot Will Work
Participants will be divided into several categories. Distributors will open test accounts for ECB staff and process payments. Acquirers will connect merchants to accept the digital euro. Some companies will handle both roles.
The pilot will use a beta version of the asset that is functionally and technically close to the final model under legislation, but will not have legal tender status.
During testing, ECB and national central bank staff will be able to make person-to-person transfers, in-store payments, and e-commerce purchases via mobile apps. E-commerce businesses, cafeterias, restaurants, and other venues will be part of the test. Participants cannot charge users fees for pilot-related services.
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US Blocks CBDC, Europe Accelerates Development: The Geopolitical Context
The pilot selection comes as the two sides of the Atlantic diverge on digital currencies. The US Senate has passed the 21st Century ROAD to Housing Act, which blocks the Federal Reserve from issuing a digital dollar (CBDC) until December 31, 2030. President Trump signed an executive order against CBDCs in January 2025, calling them a threat to financial stability and privacy.
Europe, by contrast, sees the digital euro as a response to dollar stablecoins, which pose a threat to EU financial sovereignty. Italian Economy Minister Giancarlo Giorgetti said the new US policy on stablecoins is a bigger threat to Europe than trade tariffs. ECB Executive Board member Piero Cipollone said the pilot shows the private sector’s readiness to actively participate in the digital euro’s development to strengthen Europe’s payment ecosystem.
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