2025 has seen the global economy move to embrace digital assets unlike ever before. With countries exploring increased adoption, there is no shortage of initiatives seeking to leverage the technology. Now, the European Central Bank is eyeing the creation of a blockchain-based payment system, according to Bloomberg.

The announcement comes less than a month after the Central Bank pitched its own digital euro. Indeed, board member Piero Cipollone led a push to promote a stablecoin for Eurozone banks that would “respond to US President Donald Trump’s” crypto push, a Reuters report notes.

Also Read: European Central Bank’s Digital Euro CBDC: Will It Transform Europe?

European Central Bank Looking to Create Blockchain-Based Payment System

The digital asset industry has grown rapidly since the calendar turned to 2025. With the United States electing its first pro-crypto president in the form of Donald Trump, his push to embrace the asset class had the potential to spur a global movement in the same direction. Less than two months into the year, and that has already taken place.

There is a growing sentiment that the technology behind cryptocurrencies will play a critical role in an evolving financial sector. Now, that has the European Central Bank eyeing the establishment of its very own blockchain-based payment system.

European Central Bank Raises Interest Rates by Basis Points Amidst Banking Chaos
Source: Council on Foreign Relations

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The ECB reportedly wants to establish the system to allow “financial institutions to settle transactions in central bank money,” Bloomberg notes. Moreover, the introduction of the payment system could be the latest step toward the introduction of a central bank digital currency (CBDC).

“This is an important contribution to enhancing European financial market efficiency through innovation,” Piero Cipollone told the publication. In January, Cipollone had said Europe was in “need of a digital euro.” The development shows that, in any form, there is a growing push to embed blockchain technology in the ECB.

  • blockchain
  • European Central Bank