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

Bank of Italy Governor Fabio Panetta told the country's banking association that commercial banks must convert their money into digital tokens to remain competitive as stablecoins gain momentum, backed by strong U. S. administration support that threatens European monetary sovereignty. source: https://cryptonews.com/news/bank-of-italy-chief-warns-banks-must-tokenize-money-to-compete-with-stablecoins/