back Back

The Italian Banking Association launches experimental digital euro project

By Megha Bhattacharya

December 23, 2020

  • Europe
  • Italian Banking Association
Share

digital euroThe Italian Banking Association (ABI) has announced that it has started experimentation with the digital euro. The project is conducted in collaborated with  ABI Lab and other banks. The collaborative project aims to demonstrate the technical feasibility of a digital euro based on blockchain Distributed Ledger Technology (DLT). It is expected to boost the role of banks in the European Central Bank’s digital euro environment.

According to ABI, the experimentation project will explore the areas involving the infrastructure and distribution model as well as programmability for testing with use cases. Part of the experimentation will be carried out in partnership with SIA and the ABI Lab Chain banking infrastructure. The second work area will be divided into several working groups that will focus on use cases and will work in collaboration with the banks and NTT Data, PWC and Reply, which have made their resources available to the project.

The European Central Bank has conducted an in-depth study on the digital euro prepared by the Eurosystem’s High-Level Task Force on Central Bank Digital Currency (HLTF-CBDC) and approved by the Governing Council. This includes the publication of the “Report on a digital euro”. The organisation states that the launch of the digital euro will enhance support for the digitisation of the European economy, help in moving away from cash use as a means of payment and respond to the rising use of digital currencies issued by private entities or by central banks in other countries.

Previous Article

December 23, 2020

Save partners with Mastercard to launch Save Debit Invest Card, matches spending with investments

Read More
Next Article

December 23, 2020

Plastiq announces Cash Payments & significant growth in the second half of 2020

Read More

IBSi Prime News

The Weekly Wrap

November 26, 2021

Europe

The Weekly Wrap: all you need to know by Friday COB | Nov 26th

Read More
  • Daily insightful news analysis
  • Weekly snapshot of the industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by the IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

November 26, 2021

TabTrader announces the closing of a $5.8m Series A funding round

Read More

November 26, 2021

Altada Technology Solutions opens its sixth global hub this year in London

Read More

November 26, 2021

DeFiato completes first round of private capital raising

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
US Financial Services Technology Report 2021

£1,500 / year

Know More
The Future of Digital Banking Report 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More