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BANCOMAT has announced a significant step forward in its EUR.BANK project, a euro-denominated stablecoin initiative developed in collaboration with some of Italy's most prominent financial institutions.
Technical Testing Begins With Nine Banking Partners
Banca Generali, Banca MPS, Banca Sella, Banco BPM, BPER Banca, Cassa Centrale Banca, CREDEM, Crédit Agricole Italia, and Intesa Sanpaolo have all committed to participating in an initial phase of technical testing. The pilot, which begins in July 2026 through internal bank projects without direct customer involvement, is focused on validating core use cases and the supporting infrastructure behind the EUR.BANK platform. A full launch is targeted for early 2027, subject to the necessary regulatory approvals.
More Than a Stablecoin: An Interoperable Banking Ecosystem
EUR.BANK is designed to go beyond the creation of a euro stablecoin. The initiative aims to build a fully interoperable, institutional-grade ecosystem deeply integrated with the existing banking system. At its core is a wallet designed to hold three forms of the same money: traditional euro, digital euro, and private stablecoin, giving users seamless access across all three layers from a single interface.
Critically, when a client acquires EUR.BANK, the funds are not removed from the banking system. They remain deposited at the client's bank of origin through dedicated accounts, preserving deposit-taking capacity and strengthening depositor protection. The stablecoin is the first access point to the ecosystem, not a replacement for the underlying banking relationship.
The project is being developed in coordination with the Italian Banking Association (ABI) and in ongoing dialogue with regulatory authorities including the Bank of Italy, and is aligned with the broader European regulatory framework for digital currencies.
Interoperability as the Central Challenge
One of EUR.BANK's defining ambitions is interoperability. Today's euro stablecoins do not communicate with each other and operate under different technical standards. BANCOMAT's ambition is to replicate in the tokenised world the same unifying role its circuit has played for decades in traditional payments, creating a shared infrastructure that allows euro stablecoins from different issuers and banking groups to circulate seamlessly. In this sense, the project positions itself as a model for convergence rather than competition.
Key Use Cases Under Development
Three primary application areas are currently being explored:
- Tokenisation of financial instruments, including sovereign debt
- 24/7 on-chain payments and settlements to support emerging digital markets
- Cross-border payment simplification to support the internationalisation of Italian and European businesses
Leadership Voices
Fabrizio Burlando, CEO of BANCOMAT, said:
"The initiative we are advancing with some of the country's leading banking institutions is an important step, not only for BANCOMAT but for the entire system. Our goal is to demonstrate that innovation and stability are not in contradiction: it is possible to build modern digital infrastructure while remaining fully within the logic of trust and depositor protection."
Marco Elio Rottigni, Director General of ABI, added:
"ABI looks favorably on industry initiatives around stablecoins aimed at exploring scenarios, opportunities, and possible solutions for the benefit of the entire Italian banking sector and, more broadly, for the country. This is a path that can develop in a complementary and coherent way with ongoing public initiatives, helping to strengthen innovation, security, and competitiveness within the national financial ecosystem."
BANCOMAT will continue working with banking partners, institutions, and technology operators to advance the project toward its next phases of development, in full compliance with the applicable regulatory framework.
Disclaimer:
This content is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice; no material herein should be interpreted as a recommendation, endorsement, or solicitation to buy or sell any financial instrument, and readers should conduct their own independent research or consult a qualified professional.
