ECB Launches Pontes Platform for Central-Bank Money Settlement
The European Central Bank (ECB) has launched Pontes, a platform that enables banks and other financial institutions to settle tokenized-asset transactions in central-bank money.
Pontes links market distributed-ledger technology platforms to the Eurosystem's TARGET Services, allowing participating banks to settle wholesale transactions in central-bank money.
The ECB designed Pontes to bypass stablecoins like Tether (USDT) and USD Coin (USDC), instead using central bank money for settlement. The system was built on findings from the Eurosystem's 2024 experiments on settling DLT-based transactions with central bank money.
Pontes will initially operate between 8 a.m. and 4 p.m. CET on business days, with plans to extend its operating hours and functions over time.