ECB says dual settlement model launched in September

A dual settlement model offering a choice between TARGET2 and distributed ledger technology (DLT) was launched on 21 September, the European Central Bank said. The claim appeared in a presentation by ECB Executive Board member Isabel Schnabel for a conference at the Bank of England in London on 1 October. [1]

Round-the-clock availability and decentralised programmability are planned enhancements, rather than current features. Schnabel’s presentation argued that providing central bank money on-chain could allow a tokenised financial system to retain the existing two-tier monetary structure. It also suggested that tokenisation could help integrate Europe’s financial infrastructure. [1]