ECB picks firms including Deutsche Bank, Revolut for digital euro pilot

The European Central Bank (ECB) has announced the selection of 36 firms to participate in a 12‑month pilot of a beta version of the digital euro, marking a significant step toward a European central‑bank digital currency.

Who is participating

The shortlist includes a mix of traditional banks and fintech companies. Notable participants are Deutsche Bank, a major German lender, and Revolut, the UK‑based challenger bank that has expanded across Europe.

Other selected firms span payment processors, technology providers and smaller financial institutions, reflecting the ECB’s aim to test the digital euro across a broad ecosystem.

Objectives of the pilot

The pilot will assess the technical feasibility, security and user experience of a digital euro in everyday transactions. Participants will integrate the digital currency into existing payment flows, enabling retail users to send and receive euros instantly.

The ECB also seeks to evaluate how the digital euro interacts with existing cash and electronic payment methods, and to gather data on potential impacts on financial stability and monetary policy.

Key features being tested

• Interoperability with current banking infrastructure
• Real‑time settlement and low‑cost transactions
• Privacy safeguards and user authentication mechanisms
• Scalability to handle high transaction volumes

Each firm will develop its own user interface and back‑end integration, allowing the ECB to compare different implementation approaches and identify best practices.

Timeline and next steps

The pilot is set to run for twelve months, after which the ECB will publish a comprehensive report detailing findings, challenges and recommendations for a possible wider rollout.

Stakeholders, including regulators and consumer groups, will be consulted throughout the process to ensure the digital euro meets legal and societal expectations.

Read the report