Macro· ★★★★· neutral·

ECB's Cipollone: Tokenised Central Bank Money Is Essential for Europe's Digital Finance

  • Pontes will connect commercial DLT platforms to TARGET services, launching in September 2026
  • Appia targets integration of Europe's tokenised financial markets by 2028
  • Digital euro pilot planned for 2027, with potential first issuance in 2029
  • Cipollone: without central bank money, DLT markets fragment and carry counterparty risk
Why it matters: Tokenised ECB money could narrow the space for private stablecoins in wholesale settlement and set a standard for digital assets in the EU.
Source: Crypto Briefing