Italian payment network Bancomat has prepared to introduce a euro-pegged stablecoin as part of a wider effort to update its digital payments infrastructure.
The initiative is being developed with support from major domestic banks and Italy’s Ministry of Economy, with the organisation aiming for a 2026 rollout. The token is expected to be open to issuance by other regulated institutions across both Italy and the general European market.
The move comes after Bancomat expanded its digital services following a capital injection from private equity fund FSI, which invested EUR 75 million for a 43% stake. The company, known primarily for operating Italy’s ATM network, has since been working on projects intended to increase interoperability between payment systems.
General stablecoin landscape
Stablecoins, which are cryptocurrencies designed to maintain a fixed value linked to a traditional currency, have grown significantly in recent years. According to a recent assessment by the European Banking Authority, the global market reached around USD 300 billion in 2025. The regulator noted that lenders should approach the sector carefully, given the increasing interaction between financial institutions and stablecoin-based services.
Within the European Union, 27 stablecoins have been formally registered under the bloc’s Markets in Crypto-Assets (MiCA) framework, issued by 17 entities across 10 countries. Euro-referenced tokens remain comparatively small in scale but have expanded since MiCA came into effect in mid-2024, with circulation rising to roughly EUR 500 million and monthly trading activity increasing substantially, according to data cited by payments processor DECTA.
Bancomat officials said the organisation has been coordinating with payment schemes in several European countries through the European Payments Alliance, arguing that compatibility across networks will be crucial for cross-border digital payments. They added that the planned token would be backed by euro-denominated debt and structured so that any trusted financial institution within Europe could issue it. Officials suggested that a fragmented system of unrelated digital currencies could hinder adoption and that a shared model would simplify usage.
