ECB to Purchase Tokenized Bonds Using Its Own Funds

The European Central Bank (ECB) announced plans to allocate a small portion of its reserves to euro‑denominated tokenized securities, marking its first direct investment in blockchain‑based financial assets.

New settlement platform: Pontes

Purchases will be settled through Pontes, a Eurosystem platform that connects the ECB’s payment infrastructure with tokenized finance. Pontes enables wholesale transactions to be settled in central‑bank money, effectively bridging traditional payment systems and blockchain markets.

Scope of the investment

The initial focus will be on tokenized bonds issued by euro‑area governments, regional authorities, agencies and European supranational institutions. The ECB’s executive board will decide the exact size, timing and operational details after completing preparatory work, with decisions linked to the development of tokenized securities issuance in Europe.

Implementation timeline

Pontes is the first phase of the Eurosystem’s broader strategy to bring central‑bank money into tokenized finance. Additional services and extended operating hours are planned, with full implementation targeted for 2028.

Strategic significance

By acting as an investor, the ECB aims to test the end‑to‑end process of buying, settling and managing tokenized bonds, signalling a wider move by EU central banks to adapt to the growing use of blockchain technology in finance.