Italian Banks Are Willing to Test Digital Euro
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June 22, 2020

The Italian Banking Association (ABI) has announced it is willing to test digital payments in euros, CoinDesk has reported.

The ABI, which is made up of more than 700 banking Italian institutions, has also made some recommendations on the use of the digital euro:

"Monetary stability and full compliance with the European regulatory framework must be preserved as a matter of priority."

The authors of the proposal say this is the only way the digital euro will be able to gain the public's trust.

The ABI has also reported its members are already working on the Spunta project, which aims to integrate blockchain tech to speed up interbank payments.

The ABI representatives claim a central bank digital currency (CBDC) will contribute to future innovations in the traditional banking system such as peer-to-peer transactions, machine-to-machine transactions as well as the ability to manage exchange rate and interest rate risk thanks to the programmable capacities of this kind of currency.

The central banks of France and the Netherlands have also said they are willing to test a digital version of the euro.

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