BANCOMAT, nine banks start tests of EUR.BANK stablecoin

BANCOMAT began internal technical testing of EUR.BANK with nine Italian banks in July 2026. The pilot is limited to projects run inside the participating banks and does not include direct customer use. A full commercial launch is targeted for early 2027, subject to regulatory approval.

Participants in the test are Banca Generali, Banca MPS, Banca Sella, Banco BPM, BPER Banca, Cassa Centrale Banca, CREDEM, Crédit Agricole Italia and Intesa Sanpaolo. The initial phase aims to validate core use cases and the platform’s infrastructure.

EUR.BANK is designed as an interoperable, institutional-grade platform connected to the existing banking network. The system centres on a wallet that can hold three coexisting forms of the same funds: traditional bank deposits in euros, a potential digital euro and a private euro-denominated stablecoin. When a client acquires the EUR.BANK token, the underlying funds remain deposited at the client’s originating bank in dedicated accounts, which preserves deposit-taking capacity and keeps the deposit relationship intact.

The pilot will test token issuance, settlement flows and integration with legacy banking systems. Participating banks will run internal scenarios to assess these technical functions rather than customer-facing products.

Interoperability is a primary objective. Current euro-denominated stablecoins typically follow different technical standards and do not interconnect easily. BANCOMAT plans to build a shared infrastructure that allows euro stablecoins from multiple issuers and banking groups to circulate and settle across the same network.

Three main applications are under evaluation: tokenisation of financial instruments including sovereign debt; 24/7 on-chain payments and settlements to support continuous digital markets; and simplified cross-border payments to support the international operations of Italian and European businesses. The tests will assess whether the platform can support these applications while meeting security and regulatory requirements.

BANCOMAT is working with the Italian Banking Association (ABI) and remains in dialogue with regulators, including the Bank of Italy. Project leaders say the initiative follows the broader European regulatory framework for digital currencies and will proceed in line with applicable rules. BANCOMAT will continue collaborating with banking partners, technology providers and institutions as development continues.

Fabrizio Burlando, CEO of BANCOMAT, commented: “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, commented: “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.”