Eurosystem launches Pontes for tokenised-asset settlement

First implementation stage of the Eurosystem's strategy for tokenised finance: wholesale transactions in tokenised securities can be settled in central bank money, removing the credit risk of private settlement assets. The launch starts with a selected initial group, with further participants to connect over the coming months; full implementation, including enhanced features and extended operating hours, is planned for 2028.

On 21 Sept 2026 the Eurosystem launched Pontes, a solution allowing wholesale transactions in tokenised assets to be settled in central bank money. The initial group comprises 13 market participants — ABANCA, BayernLB, CDC, Cecabank, Deutsche Bank, DekaBank, DZ Bank, the EIB, KfW, Memo Bank, NRW.BANK, Santander and Société Générale — plus Deutsche Bundesbank and four DLT operators (Axiology, Cashlink, Clearstream, SWIAT); they have completed onboarding and can use Pontes immediately. Pontes is the first initiative under the Eurosystem's programme to make central bank money fit for a tokenised future; in parallel, the Appia initiative is to deliver a blueprint for an integrated DLT-based financial ecosystem by 2028 (ECB press release, 21 Sept 2026).