TechFlow, November 9 — According to a recent Reuters report, Italian banks support the European Central Bank's (ECB) plan to launch a digital euro but hope to spread the required investments over a longer period.
Marco Elio Rotini, general manager of the Italian Banking Association (ABI), said at a press conference that banks still back the proposal despite high costs, as it reflects the concept of "digital sovereignty."
Recently, the ECB reached an agreement with EU finance ministers on a roadmap for the digital euro, and the central bank digital currency (CBDC) is expected to launch in 2029, provided it receives EU approval next year.
Rotini noted that the Italian Banking Association supports a dual strategy—advancing both central bank digital currencies and commercial bank digital currencies—to remain aligned with other countries.
