ECB Advances Digital Euro Pilot as PSP Selection Opens

ECB speeds up the digital euro pilot, launching PSP selection and a 12-month EU-wide rollout to reduce reliance on card networks.

Rich by Coin

2026-02-19

The European Central Bank is accelerating the Digital Euro pilot, with plans to begin selecting payment service providers in Q1 this year. The project aims to test an EU-wide CBDC network and run for 12 months starting next year. The move comes as the ECB seeks to reduce reliance on international card networks and modernize Europe’s payments landscape.

Piero Cipolleone, a member of the ECB Executive Board, said the PSP selection process will begin at a meeting of the Italian Banking Association’s executive committee on the 18th. The ECB notes that more than 75% of European payments are currently processed through Visa, Mastercard and other international networks, a factor driving the Digital Euro network forward. Only eight of the 21 euro-area member states have their own national payment rails, leaving the rest dependent on cross-border networks.

ECB officials say building the digital euro network could reduce merchants’ international network fees, while domestic payment fees within the EU may be higher. The ECB also stressed that the digital euro would be a widely usable payment instrument for the public and businesses across the EU, available anywhere and at any time.