The European Central Bank launched the Pontes payment system on September 21 to facilitate blockchain settlements. The solution connects distributed ledger-based market platforms with TARGET services, enabling wholesale transactions in tokenized euro backed by ECB reserves.
A select group of participants, including Deutsche Bank, Santander, and Clearstream, joined the initial launch. The platform currently operates on weekdays from 8:00 to 16:00 UTC+1. A full-scale release with expanded functionality is scheduled for 2027.
The regulator intends to invest its own funds in blockchain-based high-rated euro-denominated debt securities issued by public institutions. Other central banks are pursuing similar initiatives, such as the Swiss National Bank's Project Helvetia and the Bank of England's Digital Securities Sandbox.
