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European Central Bank to Build DLT-Based Settlement Infrastructure
The European Central Bank (ECB) has announced plans to build a Distributed Ledger Technology (DLT)-based settlement infrastructure, marking a significant step towards the integration of blockchain technology into traditional financial systems. This initiative has far-reaching implications for the cryptocurrency market, potentially reshaping investor sentiment and regulatory landscapes.
According to an official statement, the ECB will develop a two-phased plan to enable the settlement of DLT-based transactions using fiat currency. In Phase One, the central bank aims to link DLT platforms with its existing TARGET services, enhancing efficiency and security in financial operations.
The ECB’s long-term goal is to create a comprehensive system that supports the evolving landscape of digital finance while preserving the stability and reliability of traditional monetary systems.
This development has significant implications for the cryptocurrency market. The ECB’s proactive stance on DLT integration aligns with the broader trend of central banks exploring digital and decentralized technologies. As such, this move could potentially influence investor sentiment towards Bitcoin (BTC) and Ethereum (ETH), the leading cryptocurrencies operating on decentralized networks.
Interestingly, at the time of writing, Bitcoin is trading at approximately $98,362, reflecting a 1.27% increase in the past day and a 1.68% increase over the past week.
In conclusion, this landmark move by the European Central Bank underscores the growing importance of DLT and blockchain technology in modern financial infrastructure.
Source: http://www.crypto-news-flash.com
