The European Central Bank launched the Pontes platform on September 21, 2026. This infrastructure enables wholesale digital euro settlements for tokenized asset transactions using distributed ledger technology. The system operates on business days between 8 a.m. and 4 p.m. CET, connecting private blockchain platforms with the existing TARGET payment services.
Thirteen major banks, including Deutsche Bank and Santander, are currently active on the platform alongside four DLT operators, such as Clearstream. The system allows for settlements in central bank liabilities, which shifts credit risk from commercial intermediary banks to the central bank itself.
The launch follows 2024 trials where 64 participants processed nearly €1.6 billion in settlements. While the current platform is permanent, the ECB plans to use it to settle a portion of its own €23 billion portfolio in tokenized public sector and supranational securities.
Pontes is part of the broader Appia initiative, which aims to create an integrated tokenized financial ecosystem in Europe by approximately 2028. This wholesale project remains separate from the retail digital euro, which is currently in the legislative phase with a pilot expected in late 2027 and a target issuance by 2029.
