European Central Bank’s Piero Cipollone highlights role of public money in digital finance

Piero Cipollone of the European Central Bank emphasizes that public money is essential for trust and interoperability in digital finance, challenging private digital assets. To support this, the ECB launched the Pontes platform for wholesale settlements of tokenized assets using central-bank money, eliminating the need for stablecoins. This initiative aims to enhance global financial stability and accelerate Europe's transition to a tokenized ecosystem, with full implementation of the Pontes platform expected by 2028.