The European Central Bank has picked 36 payment providers from 50+ applicants for a 12-month digital euro pilot starting H2 2027. Selected names include Deutsche Bank, UniCredit, BPCE, Revolut Bank UAB, Stripe, and Adyen.

Providers will either distribute beta digital euro accounts to Eurosystem staff or help merchants accept beta payments. The pilot covers P2P and P2B transactions, both online and offline, across the ECB and 19 national central banks.

Board member Piero Cipollone said the strong response shows the private sector is ready to move fast on the project. A first issuance is targeted for 2029, pending 2026 regulatory approval.

The news follows Isabel Schnabel's remarks that CBDCs are key to protecting central bank money as stablecoins grow, a view that clashes with the US, where Treasury Secretary Bessent has rejected a US CBDC in favor of the Clarity Act.