According to CoinMeta, and as reported by the Financial Times, on Monday, the European Central Bank (ECB) launched an interbank tokenized payment system, with the digital euro making its debut in the wholesale financial markets for the first time. A platform operated by the ECB, named “pontes”, began to allow banks to use central bank money to settle transactions recorded on private decentralized ledgers. Tokenization refers to the creation of digital versions of assets and currencies that enable secure online exchanges on blockchain-based systems. The ECB is attempting to establish central bank money as an alternative to privately issued stablecoins for settling tokenized transactions. In addition, a retail version of the digital euro for transactions between individuals and businesses is also under development. The ECB argues that both the retail and wholesale digital euros are crucial for maintaining the freedom and sovereignty of the single currency area. ECB economists warn that if stablecoins denominated in US dollars are widely used for digital transaction settlements in Europe, the continent may lose control over its monetary policy.