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Europe doubles down on public money for digital finance
‘No.’ That was the clear answer from a key Eurosystem official in a recent OMFIF session to the question: ‘has the Genius Act changed your mind about the role of private money in wholesale capital markets?’ Although some central bankers have been panicking about their sector’s impotence or complacency in response to the expected dollar stablecoin boom, the Eurosystem has been stepping on the gas for its digital overhaul of wholesale euro settlement projects to embed public money at the heart of tokenisation. The same official expects, as a private opinion, that distributed ledger technology will underpin ... (full story)
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