ECB Selects SIA and Nexi as Network Service Providers for Digital Euro Pilot

The European Central Bank has formalised the technical infrastructure for its digital currency ambitions by appointing SIA S.p.A. and Nexi S.p.A. as network service providers. This selection establishes the critical connectivity layer required for payment service providers to access the digital euro platform, marking a significant step toward a functional retail central bank digital currency.

What was announced

The European Central Bank (ECB) has concluded a tender process initiated in August 2025, selecting SIA S.p.A. and Nexi S.p.A. to provide the connectivity services for the digital euro. These network service providers (NSPs) will be responsible for linking participating payment service providers (PSPs) and national central banks to the digital euro service platform. The infrastructure is designed to facilitate communication between various components of the digital euro ecosystem, ensuring that the platform remains accessible and interoperable across the Eurozone.

The rollout follows a phased timeline. The contract with SIA S.p.A., the first-ranked provider, entered into force on 28 September 2026, focusing initially on the connectivity requirements for the digital euro pilot phase. Nexi S.p.A., the second-ranked provider, is scheduled to begin its contract in May 2027. Both companies are expected to be fully operational by 2029 to support a potential full-scale issuance of the digital euro, pending a final decision from the ECB Governing Council. Under this arrangement, any PSP offering digital euro services will have the flexibility to connect to the platform through either of the two selected NSPs. The service agreements also grant the ECB the ability to adjust technical requirements as the project evolves through its pilot and subsequent stages.

The companies involved

The European Central Bank (ECB) serves as the central institution of the Eurosystem and the Single Supervisory Mechanism, overseeing monetary policy for the eurozone. It has been increasingly active in modernising payment infrastructures to maintain the euro's relevance in a digital economy. Nexi S.p.A. is a prominent European paytech firm that has established a significant footprint in the digital payments market, following its expansion and integration within the Italian banking sector. SIA S.p.A. is another major player in the European payment services and financial infrastructure space. Historically, SIA has provided high-tech solutions for central banks and financial institutions, including the management of clearing and settlement systems. Both companies are central to the European financial technology landscape, often collaborating on large-scale infrastructure projects. Their selection as NSPs reinforces the ECB's strategy of utilizing established European technology providers to ensure the sovereignty and resilience of the digital euro’s underlying network.

What FF News has reported before

FF News has closely tracked the ECB’s efforts to innovate within the Eurosystem. In October 2026, we covered the initial outcome of this selection process in ECB Selects Nexi and Deutsche Telekom to Power Digital Euro Connectivity. Beyond the digital euro, the ECB has been expanding its international reach, as seen in our report on ECB Explores TIPS and Pix Interlinking to Revolutionize Europe-Brazil Cross-Border Payments. The bank’s existing infrastructure also continues to onboard new participants, with Xryma Plc Goes Live on ECB T2 Network for Instant Cross-Border Euro Payments. Furthermore, the launch of Eurosystem Launches Pontes to Settle Tokenised Assets in Central Bank Money highlights the broader shift toward tokenisation within the central bank's remit.

What this means

This announcement signals that the digital euro is moving from theoretical design into the "plumbing" phase of implementation. By selecting two NSPs, the ECB is prioritising redundancy and competition within its infrastructure, ensuring that the network is not dependent on a single point of failure. For the wider fintech sector, this move puts pressure on traditional commercial banks to accelerate their own digital currency strategies, as the 2029 readiness date provides a concrete horizon for potential disruption. The reliance on established European players like Nexi and SIA also suggests a "Europe-first" approach to critical financial infrastructure, raising questions about how non-European technology providers will fit into the future of the eurozone’s digital payments landscape.