Italy’s Banks Support Digital Euro, Urge Cost Spread

Italy’s banks are voicing support for the European Central Bank’s (ECB) digital euro project, prioritizing cost management while emphasizing its potential benefits. They urge a phased implementation to address high infrastructure costs estimated at potentially €1 billion or more. The initiative aligns with EU digital sovereignty goals, but financial hurdles and delays are possible, impacting market adoption strategies and current banking investments. While the ECB aims for a 2029 launch, Italy’s banking sector highlights the need for cost spread over time to ensure smooth project implementation.