PANews reported on April 14th, citing Cointelegraph, that the European Central Bank (ECB) stated in its latest macroprudential bulletin that tokenization technology can only improve the efficiency of EU capital markets if it is pegged to central bank currency, infrastructure remains interoperable, and regulation is "robust and supportive." The ECB noted that DLT (Dynamic Lending Technology) helps deepen the EU savings and investment union, but its benefits depend on interoperable infrastructure and policymakers' ability to manage new risks. The report emphasized that efficiency improvements require avoiding fragmentation of incompatible platforms and ensuring that tokenized market settlements can use central bank currency. Tokenized bonds have shown initial evidence of lower borrowing costs and narrowed bid-ask spreads, but these benefits remain exploratory and conditional, with technical, legal, and liquidity risks still present. The report also analyzed tokenized money market funds and MiCA-compliant euro stablecoins, pointing out similar liquidity and operational risks, compounded by new operational vulnerabilities. The ECB explicitly stated that tokenization can support its vision of integrating capital markets, but only if policy, prudential rules, and central bank infrastructure develop in tandem.