European Banks Endorse Digital Euro, Seek Phased Cost Implementation
European Banks Endorse Digital Euro, Seek Phased Cost Implementation
Italian banks have voiced support for the European Central Bank's (ECB) digital euro plan, an initiative expected to be rolled out by 2029. While backing the concept, they have requested that associated costs be distributed over time. This comes after EU finance ministers reached a compromise agreement with the ECB regarding the digital currency's implementation.
Italy's Banks Back Digital Euro Plan, Seek Cost Deferral
Italian banks have thrown their support behind the European Central Bank's proposal for a digital euro, a project anticipated to launch by 2029. However, their endorsement comes with a condition: a preference for spreading the associated costs over a longer period. This development follows a recent compromise agreement reached between EU finance ministers and the ECB concerning the digital currency's rollout, signaling continued progress in the CBDC's development within the European Union.