🇪🇺 Italian Banks Support Digital Euro — But Warn of Massive Cost Burden
Italian banks are backing the European Central Bank’s (ECB) Digital Euro initiative, praising it as a vital move toward Europe’s digital independence. However, they are sounding a clear warning: the project’s financial demands are too steep to handle all at once.
Marco Elio Rottigni, General Manager of the Italian Banking Association (ABI), told reporters that while Italy is aligned with the ECB’s vision, banks cannot shoulder the cost shock upfront:
“We welcome the Digital Euro as a symbol of digital sovereignty… but the financial burden is enormous. The costs must be distributed over several years.”
✅ Support for Digital Euro… With Conditions
The banking sector fears the ECB-issued retail wallet could trigger a shift of funds away from commercial banks — a concern shared by major lenders in France and Germany.
Today, 137 economies — representing 98% of global GDP — are exploring CBDCs, pushing Europe to accelerate progress before falling behind global rivals like China.
Also Read : Australia Tightens Crypto Rules With New ASIC Guidance — Stablecoins in the Crosshairs
🚀 ECB’s Digital Euro Timeline
➡ 2027: Pilot testing begins
➡ 2029: Full public launch targeted
(Pending EU legislation approval in 2026)
European Parliament member Fernando Navarrete has already called for a scaled-back model to avoid undermining existing bank-based payment systems such as Wero, developed by 14 European banks.
Rottigni proposes a dual-track model:
A Digital Euro complemented — not replaced — by commercial bank-issued digital payments.
The message is clear: Europe must innovate — but not at the expense of its banking ecosystem.
🛡️ Tech Partnerships Strengthen the Digital Euro Project
The ECB recently signed agreements with seven global technology leaders to build and secure the future CBDC.
This includes:
- Feedzai — advanced fraud prevention
- Giesecke+Devrient (G+D) — payment security infrastructure
These partners will help deliver features such as:
✅ Offline payment capabilities
✅ Anonymous “alias lookup” payments
✅ Secure data exchange and risk control
All designed to ensure the Digital Euro is fast, safe, and future-ready.
