The Italian Banking Association (ABI) has expressed support for the European Central Bank’s (ECB) digital euro initiative, but with a request for phased funding to manage the project’s high costs. While the ECB aims to leverage the digital euro as a tool for enhancing monetary sovereignty within the eurozone, its development has been met with delays due to opposition from certain banks in France and Germany. These banks express concern that widespread adoption of the ECB’s online wallet could lead to a decline in bank deposits. In a recent meeting held in Florence, the ECB’s Governing Council decided to move forward with the digital euro project to the next phase after completing a two-year preparatory period. The official launch is planned for 2029, following a pilot program in 2027. However, this depends on EU legislative approval in 2026.