According to ChainCatcher, Italy's debit card payment network, Bancomat, is collaborating with the country's major banks and the Ministry of Economy to introduce a stablecoin pegged to the euro. Bancomat CEO Fabrizio Burlando announced that the company aims to launch this stablecoin by 2026. The initiative will be open to other regulated Italian and European institutions to enhance adoption. The stablecoin will be backed by euro-denominated debt, allowing any trusted European financial institution to issue it.