ECB Selects 36 Payment Providers for Digital Euro Pilot Launching in H2 2027

According to Cointelegraph, the European Central Bank selected 36 payment service providers on Tuesday for a 12-month digital euro pilot scheduled to launch in the second half of 2027. ECB Executive Board member Piero Cipollone warned Friday that widespread stablecoin adoption could erode commercial banks' retail deposit base and shift competition dynamics in the traditional banking system. Cipollone emphasized that the digital euro will help maintain the role of public money while ensuring banks remain key participants in the payment ecosystem. The pilot aims to test the feasibility of a retail central bank digital currency (CBDC) in the eurozone, with potential formal launch as early as 2029 if legislation and testing progress smoothly.
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