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Bancomat EUR BANK Stablecoin Project Progresses
The Italian banking landscape is starting to see positive digital asset momentum as several join to issue a joint Euro stablecoin.
Italy is supporting the Euro stablecoin market (Caleb Miller / Unsplash)
Italy's EUR.Bank stablecoin project is progressing.
Bancomat has given an update on its Euro-backed stablecoin project, with a total of 9 participating domestic Italian banks.
The aim will be to test out intra-bank transfers from July onwards and grow the broader European stablecoin landscape, however, it will also consider a series of other tokenization and digital currency alternatives.
Those involved include: Banca Sella, Cassa Centrale Banca, Bper Banca, Credem, Intesa Sanpaolo, Crédit Agricole Italia, Banca Generali, Banca MPS, and Banca BPM with others potentially set to follow.
Recently, there has been a wave of a more restricted stablecoin rhetoric from leading institutions within the European region.
Inspite of this, and similar to Qivalis, the stablecoin project will carry on ensuring that those participating will continue to have links to the banking system and regulations.
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