The European Central Bank (ECB) announced the selection of 36 technology and financial companies, including fintech leader Revolut, to pilot the digital euro. This step marks a key milestone in preparations for the digital currency’s launch, scheduled for 2027, and underscores the EU’s commitment to innovation and security in the field of electronic payments.

Leading European banks, payment systems, and fintech companies will participate in the pilot program, ensuring a wide range of use cases for the digital euro are tested. The selected participants include both large multinational organizations and startups, which will allow for an assessment of the new currency’s functionality and scalability across various platforms and economic sectors.

According to the ECB, the pilot program will reach more than 50 million users across Europe. The testing is expected to identify the best solutions for ensuring the security, speed, and ease of use of the digital euro, as well as its integration with existing banking and payment systems.

The launch of the digital euro is intended to increase financial inclusion, reduce transaction costs, and strengthen the EU’s sovereignty in the digital economy. The ECB notes that special attention will be paid to data protection and the prevention of cyber threats.

The results of the pilot program will form the basis for a final decision on the introduction of the digital euro in 2027, which could transform the European payments landscape and stimulate the further development of digital financial services.