Pontes enables wholesale tokenized settlement in central bank money
The Eurosystem launched the first phase of Pontes on September 21, enabling wholesale tokenized asset transactions to settle in central bank money. The platform establishes a secure environment for financial institutions executing distributed ledger transactions.
Direct settlement on distributed ledgers
The launch of Pontes marks the Eurosystem's first operational step in supporting financial models based on tokenization, where financial assets are represented as digital tokens on distributed ledger technology (DLT) networks.
Pontes connects market participants directly to risk-free central bank money, automating operational workflows across the life cycle of financial instruments while mitigating counterparty risk.
European Central Bank Executive Board member Piero Cipollone highlighted that Pontes brings the “stability and trust of central bank money” into the digital asset ecosystem.
The rollout builds on extensive testing conducted throughout 2024 with public and private institutions.
Onboarding and the road to 2028
A first group of financial institutions and DLT operators has already completed onboarding to begin live operations immediately, with additional participants scheduled to connect over coming months.
The project operates in tandem with the Appia initiative, a collaborative effort among central banks and industry players to define a blueprint for an integrated European DLT ecosystem by 2028.
Together, these initiatives aim to modernize market infrastructure and preserve European competitiveness.
Essential anchor, cautious pace
Pontes prevents wholesale settlement from fragmenting into proprietary private networks.
Anchoring tokenized assets in central bank money is crucial, though phased execution moves slowly.
The true measure of success will be genuine market adoption well ahead of 2028.