The Bank of Italy supports the European Central Bank's (ECB) plan to launch a digital euro, but wants to spread the required investment over a longer period of time.
Marco Elio Rotini, managing director of the Association of Italian Banks (ABI), told a news conference that banks supported the proposal despite the high cost because it embodied the concept of "digital sovereignty".
Recently, the ECB has agreed with European Union finance ministers to define a roadmap for the development of the digital euro, which is expected to be launched in 2029, subject to approval by the European Union next year.
Rotini pointed out that the Italian Banking Association supports a dual strategy of simultaneously promoting central bank digital currencies and commercial bank digital currencies in order to keep pace with other countries.
Italian banks back ECB digital euro plan, but want to share upfront investment costs
2025-11-09 00:30:08
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