Digital Euro Fast-Track: ECB Selects 36 Major Players for Beta Testing
The European Central Bank (ECB) is officially moving the digital euro from theoretical planning into active testing, selecting 36 payment service providers (PSPs) to participate in a crucial beta phase. This massive selection process, which drew over 50 applications, includes industry leaders like Revolut and Stripe, as well as established giants such as Deutsche Bank and UniCredit.
This pilot program serves as a vital precursor to the broader digital euro rollout expected in 2027. By involving both agile fintechs and traditional banking institutions, the ECB aims to stress-test the infrastructure and ensure the new CBDC can seamlessly integrate into the existing financial landscape while maintaining stability and security.
The list of selected PSPs includes fintechs such as Stripe and Revolut, alongside traditional banks including Deutsche Bank, UniCredit, and BPCE. This selection follows a competitive process that saw more than 50 applications, marking a significant milestone as the ECB prepares for a potential pilot launch in 2027.
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