ECB's Schnabel: Central banks can modernize monetary policy by going on-chain
Isabel Schnabel, Member of the Executive Board of the European Central Bank (ECB), stated that central banks could modernize monetary policy implementation by going on-chain. She highlighted that tokenization enables faster, safer, and smarter settlement, and the ECB aims to preserve the anchor role of central bank money in a digitalized world. Schnabel mentioned the Pontes project, which combines a bridge solution with the Eurosystem DLT to offer tokenized central bank money for settlement of DLT-based transactions. Pontes launched on September 21, 2026, providing a dual settlement model via TARGET2 or DLT, with planned enhancements including 24/7 availability and decentralized programmability. The Eurosystem's Appia project is also exploring various tokenized architectures.
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