[European Central Bank Executive: Commercial Banks Need to Issue Fully Digital Private Money] According to a report by Jinse Finance, a senior policymaker at the European Central Bank stated on Wednesday that commercial bank money will become fully digital in the future, just like central bank money, and both will continue to serve as the pillars of the monetary system. As financial assets increasingly exist in digital or tokenized forms, discussions about the future direction of the 'two-tier monetary system' that connects central bank money and private money are heating up. Some experts have warned that stablecoins may undermine a fundamental principle: regardless of the issuer, all forms of money should be exchangeable at equal value and mutually interchangeable.