国际清算银行：2025年松项目：央行利用智能合约进行公开市场操作报告（英文版）

Tokenization has the potential to transform the financial market infrastructures underlying payments and securities. If the private financial sector adopts tokenization on a broad scale in wholesale markets, central banks may need to participate in novel financial market infrastructures and interact with digital tokens to continue effectively implementing monetary policy. Despite research on how wholesale external markets and conventions might change, there has been relatively little experime