Key Takeaways Isabel Schnabel believes that the ECB must bring its reserves onchain. Project Pontes is due to launch in September 2026, syncing TARGET Services with DLT platforms. Project Appia targets a full tokenized-market blueprint for Europe by 2028. 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 gap only a central bank can fill. Her solution seems rooted in tokenization, adding that the technology can make financial transactions faster, safer, and more programmable, but only if the safest asset in the system …