Bancomat unveils plans for European multi-bank stablecoin

Italian payments firm Bancomat has revealed plans to launch a shared euro-denominated stablecoin, EUR-Bank, in what could become the first multi-bank digital currency framework in Europe.

European multi-bank stablecoin

The project, which is being developed in consultation with the Bank of Italy and Bancomat’s shareholder banks, is slated for launch in late 2026 and aims to create a harmonised and secure digital payments infrastructure spanning the continent.

Bancomat — best known for its debit and credit card network and its extensive point-of-sale and account-to-account payments services — says the new stablecoin will be fully backed by euros and distributed through the banking system rather than issued directly by Bancomat itself.

A Shared European Model

Speaking to Bancaforte, Bancomat’s CEO Fabrizio Burlando stressed that the firm’s ambition is to act as an enabler rather than an issuer.

“The currency will be distributed by banks and made interoperable by Bancomat,” he explained.

“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.”

That vision of interoperability marks a significant departure from the fragmented tokenisation efforts seen so far across Europe.

Burlando said Bancomat’s goal is to define a shared technical and regulatory standard — one that other European countries can adopt, “sharing the same rules and technology.”

The proposal comes just weeks after a consortium of nine EU banks announced plans to explore their own euro-backed stablecoin, suggesting growing momentum for tokenised money within the region’s banking sector.

Building Infrastructure for Tokenised Finance

The EUR-Bank stablecoin is expected to serve a broad range of use cases, including cross-border payments, instant liquidity management, and tokenised savings products such as digital government bonds.

Burlando described the initiative as “a system-wide stablecoin for all banks,” adding that it represents “the next major evolution of money.”

Bancomat’s role will focus on building the infrastructure layer — the shared rails connecting banks, regulators, and payment institutions.

“Bancomat is ready to act as the system enabler,” Burlando said, “bringing together banks, regulators, and payment institutions under one shared digital framework.”

Digital Currency Adoption Under MiCAR

With over 100 million users in ten countries, Bancomat’s network gives it a natural advantage in coordinating a cross-border initiative of this scale.

Burlando highlighted the urgency of action, noting that while the US and parts of Asia are advancing rapidly with digital currency pilots, Europe must align its innovation efforts under the Markets in Crypto-Assets Regulation (MiCAR).

“Europe cannot afford a fragmented approach to digital money,” Burlando said.

“The EUR-Bank project is about building trust, efficiency, and interoperability into the future of European payments.”

If successful, Bancomat’s coordinated model could lay the foundation for a pan-European stablecoin standard, bridging the gap between traditional banking and the emerging tokenised economy, but as noted, its not without competition.