The European Central Bank (ECB) outlined progress in transforming Europe’s financial markets through tokenization, emphasizing integration and resilience. Member Piero Cipollone highlighted initiatives like Pontes and Appia, which aim to connect digital asset platforms with central bank money. Pontes will enable settlement of tokenized transactions in central bank currency, while Appia focuses on establishing interoperability standards and governance frameworks. The ECB warned against risks like market fragmentation, loss of monetary anchors, and external dependencies. Success depends on common standards, public-private collaboration, and legal clarity to ensure seamless cross-border operations. The projects seek to create a competitive, integrated European market for tokenized assets, leveraging distributed ledger technology while preserving financial stability and strategic autonomy.
© European Central Bank, 2025.
Summary derived from the ECB website (https://www.ecb.europa.eu ).
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