For many years, banks all around the world had been rejecting the idea of cryptocurrencies. However, the tune has been reversed recently, with China and the EU flirting with the idea of issuing their own CBDC’s (Central Bank Digital Currencies). Just like stablecoins, CBDC’s are meant to be stable, with 1-to-1 valuation to real fiat currencies. The difference is that CBDCs will be issued and maintained by the central banks.
In this case, Italian Banks through their association group called ABI have publicly stated that they are ready to embrace Digital Euro if the ECB (European Central Bank) wants to issue its own version of CBDC. ABI specifically claimed that the creation of CBDCs all around the world would be able to shift people’s interest from public cryptocurrencies due to the stable valuation that CBDC’s provides.
