11 March 2026

• Appia will shape development of European tokenised financial ecosystem
• Central bank money to remain anchor of financial system amid digital transformation
• Appia sets out Eurosystem objectives and approach, expected to conclude in 2028

The Eurosystem today published the roadmap for Appia, a strategic initiative to shape the development of a European tokenised financial ecosystem in which central bank money continues to play a central role. It will bring together the Eurosystem as well as public and private sector stakeholders, with the aim of building integrated, innovative and resilient tokenised wholesale financial markets in Europe.

“With Appia, we are building a road from today’s financial system to tomorrow’s tokenised markets, firmly grounded in central bank money,” said Piero Cipollone, member of the ECB’s Executive Board.

Tokenisation is the process of issuing or representing assets in the form of digital “tokens”, typically recorded on Distributed…