The European Central Bank (ECB) is working towards building an integrated and dynamic European ecosystem for digital assets, with central bank money at its core. According to Piero Cipollone, a member of the ECB's Executive Board, the promise of tokenisation is not just to make existing processes faster, but to simplify the architecture of finance itself. The ECB has launched two complementary projects, Pontes and Appia, to achieve this goal. Pontes will provide settlement of DLT transactions in central bank money, while Appia will address the broader architecture, standards, and governance of a European tokenised financial ecosystem. The ECB aims to offer a safe asset and a monetary anchor on which tokenised finance can grow, and to foster an integrated, competitive, and innovative European payments and securities ecosystem. The bank also wants to preserve Europe's resilience and strategic autonomy. In 2023, more than 95% of transactions in both volume and value terms were settled between parties in the same individual central securities depository (CSD). The ECB has made progress in its efforts, with the EU co-legislators discussing the legislative proposal to extend and enhance the DLT Pilot Regime, and the European Commission launching a consultation to assess whether and how the Markets in Crypto-Assets Regulation should be fine-tuned. The ECB has also started accepting marketable assets issued via DLT-based services at European CSDs as eligible Eurosystem collateral. The bank's efforts are focused on creating a single European market for tokenised assets, with common standards, interoperable assets, open access, effective governance, and legal certainty. The ECB believes that tokenisation has the potential to reorganise the entire financial value chain, and that it is essential to avoid fragmentation and to create a competitive and innovative market. The bank's vision is to build an integrated European market for digital assets, and it is working towards achieving this goal through its projects and initiatives. The ECB's efforts are expected to have a significant impact on the European financial system, and to contribute to the development of a more integrated and competitive capital market. The bank's commitment to providing central bank money for settling tokenised transactions is seen as a key factor in building trust and confidence in the market. The ECB's projects, including Pontes and Appia, are expected to play a crucial role in shaping the future of European finance, and in creating a more integrated and competitive financial system. The bank's focus on creating a single European market for tokenised assets, with common standards and interoperable assets, is seen as essential for achieving this goal. The ECB's efforts are also expected to contribute to the development of a more resilient and strategic autonomous European financial system, and to preserve the euro's attractiveness globally. The bank's vision for the future of European finance is one of a more integrated, competitive, and innovative financial system, with central bank money at its core, and with a strong focus on creating a single European market for tokenised assets. The ECB's commitment to achieving this goal is seen as a key factor in shaping the future of European finance, and in creating a more prosperous and stable financial system. The bank's efforts are expected to have a significant impact on the European economy, and to contribute to the development of a more integrated and competitive European financial system. The ECB's focus on creating a single European market for tokenised assets, with common standards and interoperable assets, is seen as essential for achieving this goal, and for building a more resilient and strategic autonomous European financial system. The bank's vision for the future of European finance is one of a more integrated, competitive, and innovative financial system, with central bank money at its core, and with a strong focus on creating a single European market for tokenised assets. The ECB's commitment to achieving this goal is seen as a key factor in shaping the future of European finance, and in creating a more prosperous and stable financial system.