Digital euro: ECB selects 36 providers for pilot project, eight of which are Italian

The European Central Bank has selected 36 banks and payment service providers for the pilot project for the digital euro pilot project, which is set to begin in the second half of 2027 and will last 12 months. The ECB announced this in a statement. Among the participants are eight Italian companies: Banca Monte dei Paschi di Siena, Banca Sella, Isybank, Nexi Payments, Numia, Poste Italiane, UniCredit and Satispay (the latter applied in Luxembourg whilst the other seven applied in Italia and will be monitored in collaboration with the Bank of Italy). The providers were selected from over 50 applications. European groups also include Worldline, Adyen and SumUp, as well as institutions such as Deutsche Bank and Revolut. “The aim of the pilot project,” explains the ECB, “is to support the preparatory work currently underway for the possible issuance of a digital euro.”

The project will give thousands of employees at the ECB and national central banks – including the Bank of Italia – access to a “beta version” of the digital euro, to be used online, at POS terminals in selected shops, or for person-to-person payments. “The strong interest from the market demonstrates the private sector’s desire to actively engage and move forward quickly,” emphasises Piero Cipollone, who chairs the high-level task force on the digital euro.