ECB Launches Pontes Platform for Settling Digital Securities in Euros

The European Central Bank (ECB) has launched the Pontes platform for settling digital securities in euros. This move connects the ECB's payment system with blockchain-based financial markets, allowing banks and investors to settle transactions in euros backed by the ECB.

The first users of Pontes, including Deutsche Bank, Santander, and clearing company Clearstream, have completed their connection to the platform. They will be able to use the service from its start of operation on weekdays from 8:00 to 16:00 Central European Time.

The ECB aims to invest a small portion of its own funds, amounting to €23 billion, in blockchain-based securities. The central bank will focus on highly rated euro-denominated debt instruments issued by public institutions. This move is seen as a step towards reducing dependence on private alternatives and increasing the efficiency of asset operations.