Eurosystem launches Pontes
21 September 2026 Europe
Image: ImageSine/stock.adobe.com
The Eurosystem and the European Central Bank (ECB) have launched Pontes, a solution enabling wholesale transactions in tokenised assets to be settled in central bank money.
According to the Eurosystem, Pontes is the first initiative in its strategic programme to make central bank money “fit for a tokenised future” and to support the development of a changing financial ecosystem.
The launch builds on the entity’s 2024 tests, in which distributed ledger technology (DLT) was used for central bank money settlement.
From the testing, public and private sector stakeholders determined that access to a risk-free settlement asset was “crucial for the wider adoption” of DLT.
An initial cohort of market participants and DLT operators has completed onboarding and is prepared to commence using Pontes immediately, with additional institutions scheduled to connect in the coming months.
Pontes will initially offer a core set of services, with plans for further expansion in line with both market demand and technological developments.
The Eurosystem says enhanced features and longer operating hours will be introduced gradually, and full implementation is anticipated by 2028.
The work will continue under Appia, the Eurosystem’s long-term strategic DLT wholesale financial market infrastructure initiative, and will involve experimentation and analysis conducted by the Eurosystem, Danmarks Nationalbank, and public and private sector stakeholders.
Appia aims to have a blueprint ready by 2028.
Speaking on the launch, Christine Lagarde, president of the ECB, says: “The Eurosystem is working to enable a more integrated, innovative and resilient European financial market in the digital age.
“We will continue to make progress in close collaboration with the market.”
Piero Cipollone, member of the ECB’s executive board, adds: “Pontes brings the stability and trust of central bank money to the European tokenised finance ecosystem.
“It will give an important advantage to help it scale.”
According to the Eurosystem, Pontes is the first initiative in its strategic programme to make central bank money “fit for a tokenised future” and to support the development of a changing financial ecosystem.
The launch builds on the entity’s 2024 tests, in which distributed ledger technology (DLT) was used for central bank money settlement.
From the testing, public and private sector stakeholders determined that access to a risk-free settlement asset was “crucial for the wider adoption” of DLT.
An initial cohort of market participants and DLT operators has completed onboarding and is prepared to commence using Pontes immediately, with additional institutions scheduled to connect in the coming months.
Pontes will initially offer a core set of services, with plans for further expansion in line with both market demand and technological developments.
The Eurosystem says enhanced features and longer operating hours will be introduced gradually, and full implementation is anticipated by 2028.
The work will continue under Appia, the Eurosystem’s long-term strategic DLT wholesale financial market infrastructure initiative, and will involve experimentation and analysis conducted by the Eurosystem, Danmarks Nationalbank, and public and private sector stakeholders.
Appia aims to have a blueprint ready by 2028.
Speaking on the launch, Christine Lagarde, president of the ECB, says: “The Eurosystem is working to enable a more integrated, innovative and resilient European financial market in the digital age.
“We will continue to make progress in close collaboration with the market.”
Piero Cipollone, member of the ECB’s executive board, adds: “Pontes brings the stability and trust of central bank money to the European tokenised finance ecosystem.
“It will give an important advantage to help it scale.”
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