ECB Official Pushes for Digital Assets to Unify Europe’s Markets
Piero Cipollone of the ECB's Executive Board has urged Europe to adopt digital assets and distributed ledger technology (DLT) to create a unified capital markets union.
Speaking at the Bundesbank Symposium on October 7, he pointed out that Europe’s numerous exchanges and trading platforms lead to inefficiencies, despite efforts like the TARGET2-Securities platform.
Cipollone stressed the need for standardized regulations on asset custody and taxation to enhance market integration and competitiveness.
He noted that while over 60% of EU banks are exploring DLT, its full potential remains untapped.
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He called for a European ledger to integrate digital assets with central and commercial bank money, allowing financial institutions to operate on a unified platform.
Cipollone warned that without coordinated DLT efforts, fragmentation will worsen and emphasized the importance of timely action to build a modern financial ecosystem for Europe’s future.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
