ECB Selects 36 Companies to Test Digital Euro Pilot
The European Central Bank (ECB) has selected 36 companies to participate in a pilot testing of the digital euro, a new form of central bank money intended for the general public. The selected companies include Revolut, Deutsche Bank, UniCredit, and SumUp.
Over 50 companies had applied to participate in the project, which shows significant interest from the financial sector. The pilot will last 12 months and is scheduled to start in the second half of 2027.
The digital euro is not an investment whose price can fluctuate like cryptocurrencies such as Bitcoin. It is a stable currency backed by a central bank and exchangeable for one regular euro. Offline payments are also planned, allowing users to pay without an internet connection, similar to cash.