TechFlow, December 11 — According to Reuters, Italy's debit card payment network Bancomat is collaborating with the country's major banks and the Ministry of Economy to launch a euro-linked stablecoin that will be open to other issuers.
Fabrizio Burlando, CEO of Bancomat, said the company plans to roll out the stablecoin by 2026 and will open it to other regulated Italian and European institutions to maximize adoption. The stablecoin will be backed by euro-denominated debt, and any trusted European financial institution will have the option to issue it.
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