ECB Gives Green Light for Digital Euro Pilot

The European Central Bank (ECB) has given its approval for 36 payment service providers (PSPs) and selected merchants to participate in the digital euro pilot. The pilot is expected to start in late 2027, marking a significant step towards the launch of the digital euro.

The move comes despite a dispute over fees that had threatened to derail the project. The ECB has been working on the digital euro since 2021, with the goal of creating a secure and efficient way for Europeans to make payments.

The pilot will test the technical feasibility and user experience of the digital euro, as well as its potential impact on financial inclusion and competition in the market.