ECB launches Pontes platform to settle tokenized assets in central-bank money

September 21, 2026 at 04:18 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

The European Central Bank launched Pontes on Monday, a platform enabling banks and eligible financial institutions to settle tokenized-asset transactions in central-bank money. Pontes connects distributed-ledger platforms to the Eurosystem’s TARGET Services, offering an alternative to stablecoins and tokenized commercial-bank deposits. The launch is separate from the retail digital euro pilot scheduled for the second half of 2027.

Key Facts

Pontes connects distributed-ledger technology platforms to the Eurosystem’s TARGET Services for wholesale tokenized-asset settlement.
The retail digital euro pilot is scheduled to begin in the second half of 2027, with 36 banks and payment firms selected in July.
Initial participants in Pontes include Deutsche Bank, Santander, and Clearstream.
Pontes will operate on weekdays from 8:00 to 16:00 (UTC+1) at launch, with a full release expected in 2027.
The ECB plans to invest part of its own funds in blockchain-based securities, specifically high-rated euro-denominated debt issued by public institutions.

Pontes Platform Launch

The European Central Bank launched Pontes on Monday, enabling banks and eligible financial institutions to settle tokenized-asset transactions in central-bank money. ECB President Christine Lagarde announced the go-live at a Eurogroup meeting on Friday, describing Pontes as “a digital euro made available for banks so that they can transact amongst themselves using tokenized assets and distributed ledger technology.” Pontes links market distributed-ledger technology platforms to the Eurosystem’s TARGET Services, allowing participating banks to settle tokenized wholesale transactions in central-bank money. The platform is available only to eligible financial institutions and market infrastructure providers. At launch, a small group of participants including Deutsche Bank, Santander, and Clearstream connected to the platform, operating on weekdays from 8:00 to 16:00 (UTC+1).

Retail Digital Euro Pilot

The retail digital euro remains a separate project from Pontes. The ECB selected 36 banks and payment firms in July to join the one-year digital euro pilot. The pilot is slated to begin in the second half of 2027, testing a beta version of the digital euro across the ECB and 19 euro-area national central banks. It will cover online and offline transfers between individuals, in-store payments, and e-commerce purchases. The ECB called for merchants to join the pilot last week.

ECB Blockchain Investment Plans

The ECB announced plans to invest part of its own funds in blockchain-based securities. The investment will target high-rated euro-denominated debt issued by public institutions. Other central banks are developing similar blockchain platforms, including the Swiss National Bank’s Project Helvetia and the Bank of England’s Digital Securities Sandbox.