The European Central Bank (ECB) announced today the payment service providers selected to participate in the Eurosystem’s digital euro pilot phase.
In Cyprus, the following payment service providers have been selected:
The pilot forms part of the Eurosystem’s ongoing preparatory work for the potential issuance of a digital euro and is expected to commence in the second half of 2027 for a period of 12 months.
Selected participants from across the euro area will work with the ECB and national central banks to test a beta version of the digital euro in a controlled environment, helping to further assess its functionality, operational arrangements and user experience.
The Central Bank of Cyprus welcomes the participation of the two Cyprus-based payment service providers and will work closely with them and the ECB in preparation for the pilot exercise.
For further information, please refer to the ECB’s announcement by clicking here.