The European Central Bank (ECB) announced its strategy to support tokenised finance through the Pontes project, which will provide tokenised central bank money for distributed ledger transactions. Speaking at a workshop in Rome, ECB Executive Board member Piero Cipollone highlighted that tokenisation can transform payments, but its benefits depend on coordinated adoption across the financial system. The ECB will also accept DLT‑issued assets as collateral in its monetary operations and is developing the Appia roadmap to promote a single, interoperable network. Cipollone warned that relying solely on private stablecoins could harm monetary policy transmission, financial stability, and monetary sovereignty. The ECB’s approach aims to balance innovation with preservation of the euro’s role as the unit of account and medium of exchange.
© European Central Bank, 2025.
Summary derived from the ECB website (https://www.ecb.europa.eu ).
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