ECB introduces crypto settlement platform
The European Central Bank and national central banks have launched a new platform to enable financial institutions to settle securities transactions directly using central bank backing funds. The platform aims to integrate bond and stock trading procedures into a single automated process based on distributed ledger technology ("blockchain"), making transactions more efficient while reducing costs and errors. Additionally, the European Central Bank plans to invest part of its funds in cryptocurrencies to test the technology practically, with the goal of enhancing the integration and resilience of the European market in facing digital-age crises.
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