Italian Banking Association initiates experimental digital euro project

Thursday 7 January 2021 14:56 CET | News

The Italian Banking Association (ABI) has been conducting digital euro tests as the European Central Bank is yet to make a clear decision on a central bank's digital currency.

The ABI is working with its research and development arm, ABI Lab, and commercial banks in the country to develop an experimental digital euro. The study will reportedly focus on technical feasibility analysis and central bank digital currency programmability to create a distinction from existing electronic payment methods, according to CoinTelegraph.

Italian enterprise network firm SIA will assist the consortium in the technical feasibility studies. While the project is focusing on an experimental digital euro, there are no indications of any involvement by Italy’s central bank.

For ABI, the program is part of an effort to prepare Italian banks for a future that could include a digital euro.

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Keywords: Italian Banking Association, ABI, digital euro, banking, digital coin, payments , Italy, commercial banks, SIA, blockchain
Categories: DeFi & Crypto & Web3
Countries: Italy
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DeFi & Crypto & Web3