A private platform in the United States now settles an average of $354 billion a day in tokenized repo trades, four times what it handled a year earlier. Piero Cipollone, a member of the European Central Bank's Executive Board, cites that figure as proof that tokenization has moved from experiment to operating scale. Two days after he said so, his ECB colleague Isabel Schnabel told the Jackson Hole symposium that the asset this market actually needs to settle safely does not
