Odaily Planet Daily reports: Isabel Schnabel, member of the Executive Board of the European Central Bank (ECB), stated at the Jackson Hole Economic Policy Symposium that central bank reserves remain superior to stablecoins and serve as the final settlement asset; the ECB must place central bank reserves on-chain. She noted that stablecoins lack the independent ability to rapidly expand liquidity during periods of financial stress.
Schnabel stated that tokenization can make financial transactions faster, more secure, and programmable, provided that central bank money and other tokenized assets operate on the same infrastructure. The ECB’s Pontes project is scheduled to launch in September 2026 and will initially connect TARGET services with DLT platforms operated by market participants.
The Pontes project will later support direct settlement on DLT platforms operating within the euro system, with gradual integration of smart contract functionality and 24/7 operations. The Appia project is responsible for developing the long-term architecture, technical standards, and legal framework for the European tokenized assets market, with a complete blueprint expected by 2028. (Bitcoin.com News)