The Eurosystem has opened Pontes, a settlement platform that lets participating banks and DLT operators settle tokenised asset transactions using central bank money. Pontes begins with core services and will expand through 2028 while a parallel Appia track maps broader DLT-based financial services.
Pontes provides wholesale settlement of tokenised asset transactions in central bank money, addressing market demand for a risk-free settlement asset.
Pontes builds on 2024 DLT experiments by the Eurosystem and operates alongside a longer-term Appia initiative that will publish a blueprint by 2028.
# What Pontes is and why it matters Pontes, a platform that settles wholesale tokenised asset transactions in central bank money. Pontes aims to give tokenised markets the same risk-free settlement asset that traditional markets use today: central bank money. That addresses an often-raised barrier to adoption after the Eurosystem's exploratory distributed ledger technology (DLT) tests in 2024, where participants emphasised the need for a risk-free settlement asset.
# How Pontes works now and where it will go Pontes begins with a core set of services for institutional participants. An initial group of banks and DLT operators has completed onboarding and can use the platform immediately. The Eurosystem plans to add enhanced features and extend operating hours over time, with full implementation targeted for completion by 2028.
# Origins: tests and design decisions Pontes follows exploratory DLT tests run by the Eurosystem in 2024. Those tests evaluated whether DLT can compress stages of an asset's lifecycle—issuance, trading, settlement, custody and servicing—onto a single platform and whether smart contracts can automate parts of that lifecycle. Market participants in the tests reported that having access to central bank money as a settlement asset was essential for broader uptake.
# Relationship with Appia and other initiatives
# Who is already connected Fintech News reports that a first group of banks and DLT operators are onboarded and actively using Pontes. Additional market participants have committed to connect in the coming months. The launch therefore combines a limited live capability with a planned expansion timetable rather than a full immediate rollout.
# What this changes for market participants For banks, custodians and DLT operators that adopt Pontes, settlement risk is reduced because trades can be settled in central bank money rather than relying on private settlement assets such as stablecoins. For tokenised-asset markets, Pontes removes a cited impediment to institutional participation and integration with existing TARGET Services infrastructure.
# Immediate next steps and timeline The platform will introduce enhanced features and longer operating hours progressively, aiming for complete rollout by 2028. Appia's blueprint is also due in 2028. Meanwhile the Eurosystem will continue onboarding additional participants and expanding the platform's capabilities.
# Bottom line Pontes sets up a specifically institutional avenue for settling tokenised asset transactions in central bank money, starting with a core feature set and a limited group of participants while planning a staged expansion to full functionality by 2028. The move answers a central requirement raised during prior DLT tests and runs in parallel with the broader Appia workstream.
TL;DR The European Central Bank has launched Pontes, a wholesale settlement service for tokenized financial assets. Pontes settles transactions in central-bank money through TARGET Services and DLT interoperability. The system is institutional infrastructure and is separate from the retail digital-euro project. The Eur
Pontes will expand its services and operating hours gradually, with full implementation expected by 2028 and more participants set to join. The European Central Bank (ECB) launched Pontes, a system that allows financial institutions to settle wholesale tokenized asset transactions in central bank money, providing an al
The European Central Bank has launched Pontes, a solution that enables wholesale transactions in tokenised assets to be settled in central bank money.
ECB Launches Pontes, as Digital Euro Moves Closer ECB's Pontes settles tokenised asset trades in central bank money Deutsche Bank, Santander, Société Générale already onboarded Full Pontes rollout targeted for completion by 2028 The European Central Bank (ECB) launched Pontes on Monday, September 21, giving banks a liv
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