[ECB Executive Board Member Isabel Schnabel: Central Bank Money Must Be On-Chain] Odaily Planet Daily News – Isabel Schnabel, Executive Board Member of the European Central Bank (ECB), stated at the Jackson Hole Economic Policy Symposium that central bank reserves remain superior to stablecoins as the ultimate settlement asset; the ECB must place central bank reserves on-chain. She pointed out that stablecoins lack the independent ability to rapidly expand liquidity during periods of financial stress. Schnabel emphasized that tokenization can make financial transactions faster, safer, and programmable, but this requires central bank money and other tokenized assets to operate on the same infrastructure. The ECB's Project Pontes is scheduled to launch in September 2026, initially connecting TARGET services with DLT platforms operated by market participants. Subsequently, Project Pontes will support direct settlement on DLT platforms operating within the euro system and gradually incorporate smart contract functionality and 24/7 operations. Meanwhile, Project Appia is tasked with developing the long-term architecture, technical standards, and legal framework for Europe's tokenized asset market, with a complete blueprint expected by 2028. (Bitcoin.com News)