Bank of Italy Chief Warns Banks Must Tokenize Money to Compete with Stablecoins

Bank of Italy Governor Fabio Panetta has warned commercial banks to tokenise deposits to stay competitive as dollar stablecoins expand. He has said Europe risks dependence on U.S. payment firms, while the ECB has kept plans for a digital euro by 2029 and DLT settlement in 2026, as EU talks continue.
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