The European Central Bank (ECB) has launched Pontes, a new infrastructure designed to connect Europe’s traditional financial system with blockchain-based markets, marking a major step in the Eurosystem’s plans for a more digital financial sector.
Launched on September 21, 2026, Pontes allows wholesale transactions involving tokenised assets to be settled using central bank money. The platform connects distributed ledger technology (DLT) networks used by financial-market participants with the Eurosystem’s existing TARGET payment infrastructure.
Tokenisation involves representing assets such as bonds and other financial instruments as digital tokens recorded on blockchain or other distributed ledgers. Pontes is intended to ensure that these transactions can still settle in central bank money, rather than relying solely on commercial bank money or privately issued digital currencies.
ECB President Christine Lagarde said the Eurosystem wants to build a financial market that is more integrated, innovative and resilient as the use of digital technologies expands.
The launch already has participation from major financial institutions. Thirteen market participants and four DLT operators have completed onboarding for the initial service, with institutions including Deutsche Bank, Santander, Société Générale, KfW and the European Investment Bank among those involved. Clearstream is also among the participating DLT operators.
The ECB itself plans to use the new infrastructure. The central bank has begun preparations to invest a small portion of its own funds in tokenised securities, initially focusing on euro-denominated debt issued by governments, regional authorities and European institutions.
Pontes is aimed at banks and financial markets, not everyday consumers, and should not be confused with the proposed retail digital euro. The digital euro is still under development, with potential first issuance targeted for 2029, subject to the necessary legislation.
The name Pontes, meaning “bridges” in Latin, reflects the platform’s role in linking blockchain-based financial markets with established central-bank infrastructure. The ECB plans to introduce further improvements over time, with enhanced capabilities expected to follow the initial launch.
With Pontes now operational, the Eurosystem is positioning central bank money at the centre of Europe’s emerging tokenised financial market, as global financial institutions increasingly explore blockchain-based settlement and digital assets.
