ECB’s Schnabel Says Central Banks Must Go On-Chain as Pontes Nears September Launch

ECB Executive Board member Isabel Schnabel said at Jackson Hole on August 28 that central-bank money on blockchain is no longer optional. She argued that if public money stays off-chain while financial assets move on-chain, dollar stablecoins will become the default cash leg, threatening European monetary sovereignty. This marks a significant shift in central bank rhetoric toward digital currencies.