ECB Launches Pontes to Settle Blockchain Transactions in Central Bank Money

The European Central Bank (ECB) has launched Pontes, a new service that enables blockchain-based wholesale transactions to settle in central bank money. The platform connects distributed ledger technology platforms with the Eurosystem's TARGET Services, allowing tokenized assets to settle in central bank euros.

Pontes will initially operate between 8 a.m. and 4 p.m. CET on business days, with the ECB planning to extend its operating hours and functions over time. Deutsche Bank, Santander, and Clearstream are among the first institutions to complete onboarding and gain access to the platform.

The launch of Pontes follows earlier Eurosystem experiments with wholesale central bank money settlement. The service is expected to expand after its initial rollout, with the ECB planning to reach 22.5 hours per business day and eventually operate round the clock.