The European Central Bank (ECB) is exploring the direct issuance of central bank money on blockchain networks as Europe prepares for a more tokenized financial system. ECB Executive Board member Isabel Schnabel outlined the case during the Jackson Hole symposium on Friday, arguing that tokenized financial markets need access to central bank money for settlement. The proposal concerns reserves used by financial institutions rather than the retail digital euro or money held in consumer bank accounts. Schnabel also warned against relying on stablecoins as the primary settlement asset. While… Read more
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