The European Central Bank (ECB) has introduced a regulatory framework that allows non-bank payment service providers (NB-PSPs) to access central bank payment systems in the Eurosystem. This move enables payment institutions and e-money firms, including stablecoin issuers, to connect directly to key infrastructures like SEPA and TIPS without relying on traditional banks. The aim is to increase efficiency and facilitate instant payments across the euro area. While this development signals progress in integrating digital finance into the traditional banking system, the ECB remains cautious about crypto and states that NB-PSPs and crypto service providers cannot use central bank accounts to safeguard client funds. Instead, they must establish separate arrangements to protect customer assets. The decision represents a step toward modernizing Europe's payment landscape and could lower transaction costs, improve settlement speed, and enhance competition within the EU's financial sector. Strict regulatory and IT security requirements must be met by crypto entities seeking to participate.



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