Italian banks have expressed support for the European Central Bank’s (ECB) digital euro initiative, but have urged that the related implementation costs be distributed over time. According to representatives from the Italian Banking Association (ABI), the expenses involved in adapting infrastructure for the digital euro are considerable, and a gradual investment schedule would be more sustainable for the sector.
The ECB has been developing a digital version of the single currency with the aim of maintaining monetary sovereignty in the euro area and reducing dependence on non-European payment systems. The project is also viewed as a response to the emergence of stablecoins and other digital payment instruments. However, progress has been slow due to concerns from some banks in France and Germany, which argue that a digital euro could shift customer deposits to an online ECB wallet.
Next steps for the digital euro project
At the end of October 2025, the ECB’s Governing Council agreed to move the initiative into its next phase following a two-year preparatory period. The pilot programme is expected to begin in 2027, with a potential rollout in 2029, pending approval of relevant EU legislation anticipated in 2026.
During a recent press seminar in Florence, ABI officials said the association supports the concept of a digital euro as an expression of Europe’s digital sovereignty. They emphasised that although the benefits are clear, banks must manage the financial impact carefully, suggesting a phased investment timeline.
At the same time, the European Parliament continues to debate the legislative framework for the project. A Spanish parliamentarian leading the review has proposed a more limited version of the scheme, intended to preserve competition from private payment initiatives such as Wero, a platform supported by several major European banks. ABI officials noted that Europe should pursue both central bank and commercial digital currencies to maintain pace with global developments in payments.
