ECB Aims for Integrated Tokenized Market by 2028

The European Central Bank is pushing to create an integrated tokenized financial market. According to ECB Executive Board member Piero Cipollone, common standards and central bank money are essential for a harmonized system.

Cipollone emphasized that technology alone cannot achieve this goal, but rather public-private coordination and legal harmonization are necessary. He cited the example of tokenized traditional assets on public blockchains growing roughly fivefold from March 2025 to March 2026.

The ECB is focusing on preventing fragmentation caused by incompatible networks, losing central bank money as a safe monetary anchor, and dependence on non-European infrastructure. Cipollone highlighted that Europe has the opportunity to influence the structure of the emerging market before standards become entrenched.