Italian Banks Endorse ECB’s Digital Euro Project

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Citing the need for European “digital sovereignty,” Italy’s banks have thrown their weight behind the ECB’s plan for a digital euro.

The Italian Banking Association (ABI) has publicly supported the initiative, aligning with a recent political compromise by EU finance ministers.

Despite this support, the ABI highlighted the practical challenge of high implementation costs, requesting that banks be allowed to amortize the expenses over a longer period.

The association also urged a “dual approach” to keep pace with other major economies, like the US, which recently passed its own stablecoin legislation.