Italian banks make plans to trial a digital euro

posted 17 days ago
The Italian Banking Association announced that its banks are willing to pilot a digital euro. ABI, made up of over 700 Italian banking institutions, expressed its desire to help speed up the implementation of a digital currency backed by the European Central Bank (ECB) by participating in related projects and experiments. Last year, ABI set up a working group to research digital and crypto assets.

The group shared 10 considerations for a digital euro in Thursday’s announcement, starting with, “Monetary stability and full compliance with the European regulatory framework must be preserved as a matter of priority.” The group prioritized the need for a digital currency framework to be fully compliant with EU regulations to win the public’s trust, and said banks will play a critical role in upholding that trust.
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