ECB selects 36 payment firms for digital euro pilot launching in 2027

The ECB has selected 36 payment firms, including Deutsche Bank and Revolut, for a digital euro pilot launching in 2027. This initiative is expected to reshape Europe's payment landscape by challenging non-European networks and impacting euro-denominated stablecoins. By integrating these diverse firms, the ECB aims to test the functionality of the digital currency, potentially altering how financial transactions are processed across the continent while introducing a new digital alternative to traditional payment systems.