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Italian Banks Back ECB’s Digital Euro but Seek Gradual Cost Distribution

The Italian Banking Association supports the ECB’s plan for a 2029 digital euro launch, urging staged investments as the project moves toward a 2027 pilot and awaits EU legislative approval in 2026.

Summary

The Italian Banking Association (ABI) reaffirmed its support for the European Central Bank’s digital euro initiative, now set for a 2029 launch. ABI urged phased investment to manage high infrastructure costs. The ECB plans to begin a pilot program in 2027 after a two-year preparation period, contingent on EU legislation passing in 2026.

Terms & Concepts
  • Digital euro: A proposed central bank digital currency (CBDC) issued by the European Central Bank, designed for electronic payments across the eurozone.
  • European Central Bank (ECB): The central bank for the eurozone, responsible for monetary policy and currency issuance.
  • Central Bank Digital Currency (CBDC): A digital form of fiat money issued and regulated by a nation's central bank.