ECB Plans Blockchain-Powered Payment System
Countries across the globe are doubling down on blockchain and cryptocurrency adoption, with major initiatives rolling out left and right.
Now, the European Central Bank (ECB) is getting in on the action, setting its sights on a blockchain-based payment system, according to Bloomberg.
ECB Races Toward Blockchain Amid Global Crypto Shift
The announcement comes hot on the heels of the ECB’s push for a digital euro. Less than a month ago, the central bank pitched its version of a digital currency. Board member Piero Cipollone has taken the lead in advocating for a stablecoin that Eurozone banks could use, a move that reportedly aims to counter US President Donald Trump’s pro-crypto stance, as Reuters reports.
Since the start of 2025, the digital asset industry has grown by leaps and bounds. Trump’s election as the first openly pro-crypto president of the United States has sent ripples through the global financial system. His administration’s push to embrace digital assets has set the stage for other nations to follow suit. Less than two months into the year and that domino effect is already in full swing.
🚨 BREAKING:
EUROPEAN CENTRAL BANK (ECB) LOOKS TO CREATE A BLOCKCHAIN-BASED PAYMENT SYSTEM! 🇪🇺
AND IT SEEMS LIKE RIPPLE‘S STABLECOIN ,RLUSD‘ IS ABOUT TO TOKENIZE EURO! 💶 #XRP 🤝🏼 EUhttps://t.co/Vw1wrZq8w0 https://t.co/5TcWB6ZWbH pic.twitter.com/ducekLFcUo
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) February 20, 2025
With blockchain technology now widely seen as a game-changer, the ECB is eager to establish its blockchain-based payment system. The system would allow financial institutions to settle transactions using central bank money, Bloomberg notes. This move could also be another stepping stone toward a full-fledged central bank digital currency (CBDC).
The ECB’s Blockchain Vision
“This is an important contribution to enhancing European financial market efficiency through innovation,” Cipollone told Bloomberg. His words underscore the growing belief that blockchain technology is no longer just a niche experiment—it’s becoming a fundamental pillar of modern finance. Back in January, Cipollone had already stressed that Europe needed a digital euro, and the latest developments show that the ECB is putting its money where its mouth is.
Yesterday, the Governing Council of the European Central Bank made a major decision that will shape the future of market infrastructure in Europe:
🔹 The development of a tokenized asset settlement solution in euro central bank money—to be implemented “as soon as feasible.”… pic.twitter.com/OfT7LvwmWb
— Metzz (@nmetzz1) February 20, 2025
While it’s still early days, one thing is crystal clear: blockchain is no longer a fringe technology. As more financial institutions and governments throw their weight behind digital assets, the future of money is getting a serious upgrade.
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