European Central Bank officials proposed the concept of European ledger to centrally manage digital assets and funds in Europe

ChainCatcher news, according to Cointelegraph, European Central Bank Executive Board member Piero Cipollone proposed the concept of a European ledger, a unified European digital asset ledger to centralize digital assets and funds in Europe, thereby improving efficiency and synergy. He stated that Europe’s traditional capital markets are fragmented and need to overcome inconsistent legislation, but there is an opportunity to create a unified platform for digital assets. He referred to this platform as the Digital Capital Markets Union.

Cipollone noted that over 60% of banks in the EU are exploring or experimenting with Distributed Ledger Technology (DLT), and another 22% are already using it. He stated at a seminar hosted by the German central bank that while DLT offers an opportunity to create financial integration, it does not guarantee it. On the contrary: "The non-interoperable technological ecosystems of each country or region, shaped by different regulatory regimes, create isolated liquidity pools of assets, further exacerbating fragmentation."