Bank of Spain Governor Escrivá urges digital payment innovation with trust
José Luis Escrivá, Governor of the Bank of Spain, has called for continued innovation in digital payments while emphasizing the necessity of maintaining public trust. Speaking at the 10th Mediterranean Central Banks Conference in Roda de Berà, Escrivá argued that technological advancements should complement rather than replace traditional financial systems.
Escrivá noted that Distributed Ledger Technology (DLT) and tokenization offer significant benefits, including reduced reconciliation costs, synchronized settlement of complex transactions, and increased automation through smart contracts. However, he dismissed the idea that tools like stablecoins will replace existing financial infrastructure, stating that central bank money must remain an anchor of stability and trust in new technological environments.
Entities
Bank of Spain · José Luis Escrivá · Mediterranean Central Banks Conference · Roda de Berà
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Distributed Ledger Technology (DLT) and tokenization can offer lower reconciliation costs and synchronized settlement. www.diariodemallorca.es · www.eldia.es · www.laopinioncoruna.es
- [● 3 SOURCES] The 10th Mediterranean Central Banks Conference was held in Roda de Berà, Spain. www.diariodemallorca.es · www.eldia.es · www.laopinioncoruna.es
- [● 3 SOURCES] Stablecoins will not replace existing financial infrastructure. www.diariodemallorca.es · www.eldia.es · www.laopinioncoruna.es
- [● 3 SOURCES] Innovation should not force a choice between traditional and new methods. www.diariodemallorca.es · www.eldia.es · www.laopinioncoruna.es