Italian payment network Bancomat announced its EUR-BANK stablecoin during the Salone dei Pagamenti event in Milan on Thursday.
The stablecoin is designed for cross-border payments, instant liquidity management, and secure tokenized savings, such as government bonds.
CEO Fabrizio Burlando stated, “Bancomat recognizes the transformative impact of digital currencies. With the EUR-BANK project, we aim to build a secure, guaranteed stablecoin fully pegged to the euro, distributed through banks to enhance efficiency and reduce costs across the financial ecosystem.”
He emphasized the importance of timing, noting advances in the US and the need for Europe to accelerate adoption under MiCAR. He also highlighted the necessity for European banks to address fragmentation, rather than each issuing its own tokens, in order to harmonize the payments landscape.
Burlando described the initiative as a “coordinated effort — a system-wide stablecoin for all banks,” asserting that it represents “the next major evolution of money.”
Bancomat has over 100 million users in 10 countries across Europe. The stablecoin was developed in collaboration with members of the European Payments Alliance (EuroPA), of which Bancomat is a founding member.
“Bancomat is ready to act as the system enabler, uniting banks, regulators, and payment institutions under one shared digital framework,” Burlando concluded.