According to the Bank of Italy, banks, not stablecoins, should be the foundation of the digital monetary system. Fabio Panetta of the Bank of Italy stated that stablecoins can only have a supporting function because their stability is tied to fiat currencies. The development suggests a preference for traditional banking institutions over stablecoins in the evolution of digital finance, emphasizing the importance of fiat currency pegs for maintaining stability in the digital money landscape.

According to the Bank of Italy, banks, not stablecoins, should be the foundation of the digital monetary system. Fabio Panetta of the Bank of Italy stated that stablecoins can only have a supporting function because their stability is tied to fiat currencies. The development suggests a preference for traditional banking institutions over stablecoins in the evolution of digital finance, emphasizing the importance of fiat currency pegs for maintaining stability in the digital money landscape.