The European Central Bank has enlisted some of the project’s fiercest banking critics to test the digital euro next year. Deutsche Bank, DZ Bank, and Groupe BPCE are among 36 firms chosen for a beta trial that will also include UniCredit, Revolut and payments processor SumUp. The selection follows a European Parliament vote backing the digital euro and paves the way for a full launch in 2029, pending legislative approval that would let the ECB issue a digital form of cash.

The ECB argues the digital euro is essential to protect the euro area’s monetary sovereignty, as card and online payments are largely controlled by US firms such as Visa, Mastercard and PayPal. European retail banks have warned that a central‑bank digital wallet could drain deposits, threatening a cheap funding source. Despite those reservations, the three banks applied for the pilot, which will involve participants from 19 of the 21 euro‑zone countries.

During the trial, ECB staff will make payments in the Frankfurt headquarters canteen, testing both online and offline transactions. The ECB said the high number of applicants reflects strong market interest and engagement.