ECB’s Schnabel Says Central Bank Money ‘Must Go Onchain’

Crypto Insight Summary: “Central bank reserves remain superior to stablecoins as the ultimate settlement asset,” European Central Bank Executive Board member Isabel Schnabel told attendees at the Jackson Hole Economic Policy Symposium. Schnabel’s Pitch Isabel Schnabel didn’t mince her words, stating unequivocally that stablecoins lack “the independent capacity to expand liquidity rapidly during periods of financial stress,” a […] Crypto Insight Analysis: Direction: Neutral Impact: Minor Impact Horizon: Long-term (1 quarter-1 year) Reasoning: ECB's stance on CBDCs vs stablecoins unlikely to impact crypto markets in the short term.