ECB Introduces Pontes Platform for Tokenized Asset Settlement Using Central Bank Money

The European Central Bank (ECB) announced the launch of Pontes, a new infrastructure that enables wholesale tokenized asset transactions to be settled in central bank money, providing an alternative to private settlement assets such as stablecoins.

Purpose and Scope

Pontes is part of the Eurosystem’s tokenized finance strategy. It initially offers a core set of services and will expand its functionality and operating hours over time, with full implementation targeted for 2028.

How Pontes Works

The platform combines issuance, trading, settlement, custody and servicing of tokenized assets on a single distributed ledger technology (DLT) network. By using central bank money as the settlement asset, the system aims to increase speed, efficiency and trust in wholesale transactions, while supporting automation through smart contracts.

Strategic Context

Pontes builds on the Eurosystem’s 2024 tests of DLT‑based settlement in central bank money. Participants in those tests highlighted the need for a risk‑free settlement asset to drive broader adoption of tokenized finance. The ECB also mentioned a complementary initiative, Appia, which will explore an integrated DLT‑based financial services ecosystem, with a blueprint expected by 2028.

Outlook

The ECB expects more financial institutions to join Pontes as the platform matures, expanding its service offering and operating hours gradually. The rollout aims to provide a stable, trusted settlement layer for the European tokenized finance market.