European Central Bank Selects 36 Payment Providers Including Revolut Ahead of 2027 Digital Euro Pilot

On July 14, 2026, the European Central Bank (ECB) accelerated its journey toward the introduction of a Central Bank Digital Currency (CBDC) by selecting 36 payment service providers (PSPs). This selection includes major fintech company Revolut, signaling that the Eurosystem has entered a full-scale technical validation phase ahead of the large-scale pilot scheduled for the second half of 2027.

This pilot is crucial for testing the technical functions and operational processes of the digital euro and for improving the user experience.

During the selection process, the ECB received applications from over 50 companies across the euro area and ultimately selected 36 competitive providers. The selected companies will be responsible for testing interactions with the digital euro infrastructure and verifying efficiency in real-world payment environments. This is interpreted as a measure to encourage private sector participation in the European financial ecosystem beyond simple technical testing.

2027 Pilot Roadmap and Schedule

The full-scale digital euro pilot is scheduled to begin in the second half of 2027 and last for approximately 12 months. During this period, the ECB and the selected providers will conduct intensive stress tests to ensure system stability and closely observe how general users use the digital currency in their daily lives. This test is expected to be the final large-scale check before actual issuance.

• Verification of technical functions and operational processes of the digital euro
• Optimization of user interface (UI) and user experience (UX)
• Effectiveness testing of offline payment and privacy protection features
• Ensuring interoperability with existing financial systems

Despite technical preparations being underway, the actual implementation of the digital euro depends on the introduction of regulations at the European Union (EU) level. Discussions on relevant legislation are currently ongoing in the European Parliament and the Council, and final issuance will only be possible once a political agreement is reached. Piero Cipollone, a member of the ECB Executive Board, emphasized that the completion of the regulatory framework is an essential prerequisite for the project's success.

This announcement is an extension of the initial innovation platform phase conducted in collaboration with major partners such as Quant in 2025. Based on past achievements, the ECB is pursuing a strategy to expand the digital euro ecosystem by involving a wider range of private sector partners. This is part of a long-term plan that has continued from the initial interface development work carried out with five companies, including Amazon, in 2022.

Strategic Autonomy of the European Payment System

One of the core objectives of the digital euro project is to reduce dependence on non-European payment service providers. The intention is to strengthen the financial sovereignty of the eurozone by securing independent digital payment methods within Europe and to build a more modern and resilient financial architecture. This is consistent with the will of European leaders to increase the competitiveness of the European payment system and strengthen the international role of the euro.

From the second half of 2026 to early 2027, legislative updates from the European Parliament and the announcement of additional technical specifications by the ECB are expected to be key points of interest. Financial experts believe that discussions on economic impacts, such as the possibility of deposit outflows from commercial banks, will intensify during this process. Furthermore, demands from civil society regarding the security of offline payment functions and the level of privacy protection are expected to be continuously raised.

In conclusion, the selection of these 36 providers is a significant turning point for the digital euro, moving beyond conceptual discussions into a practical operational phase. The results of the 2027 pilot operation are expected to have a decisive impact on the trend of CBDC adoption not only in Europe but also worldwide. The ECB is accelerating preparations through close cooperation with the private sector to ensure that the digital euro can provide practical value to European citizens.