Digital euro pilot to start rolling in summer 2027: only central bank employees will be able to pay in cafes and restaurants

The European Central Bank’s (ECB) digital euro project has taken a major step forward with the announcement that its pilot program will begin rolling out during the summer of 2027. The initiative, which aims to introduce a digital version of the euro, will initially allow only employees of central banks to make payments at cafes and restaurants. In Spain, a consortium including Abanca, Ibercaja, Unicaja, Cecabank, Bizum, Deloitte, and the payment provider Sipay, operated under the brand name Uinku, will participate in the pilot. Revolut has also confirmed its involvement at the European level. The ECB, led by President Christine Lagarde, has selected 36 payment service providers across the Eurozone for the pilot phase. This includes two Spanish entities, highlighting the country's role in shaping the future of digital currency. According to the Bank of Spain, the pilot is essential for testing the technical functionality and operational processes of the digital euro, as well as refining the user experience. The pilot will run for 12 months starting in the second half of 2027, marking a critical stage in the broader development of the digital euro over several years. Efforts to create the digital euro began during the height of the pandemic in 2020. A first phase of preparation took place between November 2023 and October 2025. Now, the focus shifts to securing parliamentary approval for its implementation. The goal is to launch the digital euro for widespread public use by 2029. For now, the pilot will involve 19 other central banks from different countries, as well as everyday establishments such as cafes and restaurants. Only staff members from participating central banks will be able to conduct transactions using this beta version of the digital euro, both among individuals (online and offline) and in physical retail environments, including e-commerce and mobile payments. In Spain specifically, only a select group of employees from the Bank of Spain will have access to the initial version of the digital euro. While the bank employs more than 3,600 people, the selection process for participants will occur in subsequent months. This limited rollout underscores the cautious approach being taken to ensure the system functions effectively before wider adoption. Interest in joining the pilot program has been high, according to the ECB. More than 50 applications were received by the Eurosystem, from which 36 were ultimately chosen. Piero Cipollone, a member of the ECB’s Executive Committee and head of the High-Level Working Group on a Digital Euro, noted the strong interest from the private sector. He emphasized the willingness of private companies to actively engage in the project, aiming to accelerate progress on the digital euro and strengthen the European payment ecosystem. Cipollone expressed confidence in deepening collaboration with European payment service providers while developing a secure, efficient, and inclusive digital euro. The pilot will use a beta version of the digital euro, which will function similarly to the proposed design outlined in legislative plans. However, it will not hold the status of legal tender. This distinction highlights the experimental nature of the pilot, focusing on testing rather than immediate public use. Revolut announced its participation in the European-level pilot program on Tuesday, confirming its role as a provider. The company operates a banking infrastructure that supports financial services for millions of users globally, positioning it as a key player in the evolving landscape of digital currencies. Its inclusion signals growing international interest in the digital euro project and the potential for cross-border integration of digital payment systems.