Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
European Central Bank Unveils Ambitious Blockchain Plan

European Central Bank Unveils Ambitious Blockchain Plan

Cryptodnes2024/10/09 05:57
By:Cryptodnes

The pace of financial innovation is accelerating in the Middle East and Europe as institutions leverage Blockchain technology to enhance their markets.

Reports indicate that the European Central Bank (ECB) is considering the development of a unified “European ledger”—a comprehensive blockchain platform aimed at integrating digital assets with central bank money across Europe.

Piero Cipollone, a member of the ECB’s executive board, presented this concept at a recent symposium, emphasizing the importance of establishing a cohesive digital capital markets union to address the fragmentation of financial systems and improve overall efficiency.

At present, Europe’s capital markets face challenges due to varying national regulations and disconnected liquidity pools. Cipollone highlighted that over 60% of EU banks are either exploring or testing distributed ledger technology (DLT), with 22% already implementing it.

READ MORE:
Bitcoin Set to Maintain Dominance as Analyst Predicts Key Resistance Levels

However, the lack of interoperability among different national regulations results in “isolated asset liquidity pools,” hindering integration.

The envisioned European ledger is designed to enable smooth cross-border transactions, lower financial transaction costs, and facilitate 24/7 trading. By offering a unified framework for digital money and assets, this initiative could significantly enhance transparency, security, and efficiency in European financial markets, ultimately benefiting both central banks and private investors.

SHARE: SHARES
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!