Experts say hybrid systems will prevail as stablecoins, CBDC and tokenised deposits compete to fill the settlement gap.
A Eurex webinar on tokenisation last week revealed a market shifting from experimentation to implementation yet still constrained by the absence of cash-on-ledger solutions. The session, ‘ Tokenisation: The Future of Collateral and Liquidity Management ’, brought together senior figures from Eurex Clearing, the Deutsche Bundesbank, Commerzbank and Union Investment to examine how distributed‑ledger technology is beginning to reshape the post‑trade landscape. The cash side of tokenis