Finnish authorities are ready to test digital euro

The Association of Italian Banks (ABI) is ready to take part in testing the digital currency of the European space, which, according to officials, will transform the modern financial system.

“A digital instrument can revolutionize the sphere of finance and the conversion of funds, but its implementation must be fundamental in accordance with European law,” the report notes and emphasizes that the emergence of a new asset will help transform the banking system, including peer-to-peer transactions and the ability to set the exchange rate, as well as the interest rate due to the programmable digital characteristics of such tools.

We add that the Association of Italian Banks (ABI) includes about 700 local financial institutions. Currently, its specialists are working on a project based on a distributed registry technology called Spunta, which is aimed at accelerating interbank payments.