Woofun AI reports that the European Central Bank has selected 36 banks and payment providers to participate in the digital euro pilot program, chosen from 50 applicants. The initiative is scheduled to commence in the second half of next year and will run for 12 months.

The pilot will evaluate the Beta version of the digital euro across online person-to-person transfers, offline payments, in-store transactions, and e-commerce. Participation includes the ECB, central banks of 19 eurozone countries, their employees, and select merchants. Selected institutions include Deutsche Bank, Revolut, Adyen, SumUp, UniCredit, and Worldline. The final issuance decision awaits EU legislative approval and Governing Council ratification, with a potential launch in 2029.