Bancomat integrates Hercle into its euro-denominated stablecoin project

Agreement between Bancomat and Hercle to bring the Italian fintech company on board the Eur.Bank project, the euro-denominated system-wide stablecoin. As explained in a statement, this partnership precedes the commercial launch of Eur.Bank, which is due to take place shortly, ‘and reinforces the development of a dedicated, open, interoperable ecosystem that is fully integrated with the banking system’.

Once the authorisation process has been completed, the initiative aims to expand the potential applications of Bancomat’s stablecoin by integrating the expertise of Hercle – an authorised operator such as Casp and Imel – and to encourage its adoption by banks, businesses and operators. Its effective implementation will, in fact, guarantee full access to blockchain-based infrastructure and services, through a network founded on shared rules and anchored to the European banking system.

Hercle is the first Italian fintech to join the ecosystem and will enable the Bancomat ecosystem to extend the reach of its euro-denominated stablecoin beyond European borders, by connecting to global liquidity pools, counterparties and international markets. ‘This collaboration will enable us to strengthen the infrastructure and services supporting the project, expanding its potential applications, including in the field of international payments. Our aim is to build an open and interoperable ecosystem, fully integrated with the banking system, capable of combining blockchain innovation with the reliability of traditional financial infrastructure. The initiative helps pave the way for the evolution of Eur.bank ahead of its commercial launch,” said Fabrizio Burlando, CEO of Bancomat.