Last week Italian payments firm Bancomat revealed plans for an Italian and potentially pan-European stablecoin, EUR-bank. It aims to launch in late 2026, and is in discussion with the Bank of Italy and its bank shareholders. The payments firm has more than 400 financial services partners, provides branded debit and credit cards and a point of sale system. The most relevant solution for the stablecoin is the Bancomat payments app, which supports account to account payments, as well as retail and ecommerce payments.
Bancomat aims to provide the technology infrastructure for the stablecoin. “We are positioning ourselves as enablers, not issuers. The currency will be distributed by banks and made interoperable by Bancomat,” said Bancomat CEO Fabrizio Burlando, according to Bancaforte.
He envisions a shared stablecoin. “We must avoid repeating the mistakes of the past. It’s neither useful nor efficient for each bank or country to create its own stablecoin, perhaps denominated in euros but not interoperable,” he added. Burlando said it could be the first to define a standard “that other European countries could build on, sharing the same rules and technology.” In late September this year, a consortium of nine EU banks announced plans for a stablecoin.
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