The Bank of Italy has initiated a pilot programme to examine the viability of a central bank digital currency (CBDC).
Along with the Associazione Bancaria Italiana (ABI), Project Leonidas also includes 18 commercial banks in Italy. In order to streamline the process, the participating banks will use a shared ledger for interbank payments.
The ABI has participated in other digital assets pilots before. A number of CBDC pilot projects are also being carried out in Europe; the most recent one involved the Bank of England and the Bank of International Settlements.
Read More: Italian banks launch CBDC pilot project