ECB to carry a digital Euro pilot in 2027
The European Central Bank (ECB) has selected 36 banks in the region to participate in the digital euro pilot program as payment service providers
The European Central Bank (ECB) has selected 36 banks in the Eurozone as payment service providers to participate in the digital euro pilot program in 2027.
The objective is to conduct tests to verify the functionality and operational processes of the region’s digital currency through practical trials with consumers, businesses, and payment service providers.
The participants “were selected from more than 50 candidates across the euro area”—including Deutsche Bank, UniCredit, Revolut, Adyen, and Stripe—“and will work alongside the ECB and 19 national central banks in the euro area, with the exception of Bulgaria and Malta, during a 12-month pilot exercise.”
Last week, ECB President Christine Lagarde welcomed the European Parliament’s decision “to begin negotiations on the legislation and reiterated that the digital euro is intended to complement, not replace, cash.”
M.Pino
Source: euronews
(Reference image source: bruno neurath-wilson on Unsplash)
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