The European Central Bank launched Pontes, a system enabling financial institutions to settle wholesale tokenized asset transactions in central bank money. This system provides an alternative to private settlement assets such as stablecoins. Full implementation is expected by 2028, with gradual expansion of services and operating hours. Pontes builds on the Eurosystem’s 2024 tests of settling DLT-based transactions in central bank money. Participants identified access to a risk-free settlement asset as crucial for wider adoption of tokenized finance. The Eurosystem is also developing Appia, a complementary initiative exploring an integrated ecosystem for DLT-based financial services.
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