ECB Selects 36 PSPs to Join Digital Euro Pilot (ECB)
The European Central Bank (ECB) has selected 36 payment service providers (PSPs) from across the euro area to run a 12‑month digital euro pilot starting in the second half of 2027, using a beta version aligned with draft legislation but without legal‑tender status. The exercise, hosted at the ECB and 19 national central banks, will test front‑end functionality, operational processes, and user experience for person‑to‑person and person‑to‑business payments, both online and offline, including point‑of‑sale and e‑commerce use cases. Participating banks and non‑banks will act as distributors and acquirers for staff and selected merchants, effectively piloting the prospective intermediated distribution model. The move signals continued progress toward possible issuance while leaving fundamental policy decisions on legal tender status and full‑scale rollout explicitly unresolved. [ECB]
BTW if you want to see a complete database of my DFC-related posts going back years, including many that didn’t make the Daily Digest cut, click here.
FYI I produce a monthly digest of digital fiat currency (DFC) developments exclusively for the official sector (e.g., central banks, ministries of finance and international financial institution (e.g., the BIS, IMF, OECD, World Bank)) plus academics and firms that are active in the DFC space (commercial banks, technology providers, consultants, etc.). (DFCs include central bank digital currency (CBDC), stablecoins and tokenized deposits.) It goes out via email on the first business day of every month, and if you’re interested in being on the mailing list, please email me at john@kiffmeister.com.
