ECB's Pontes System Now Live for Tokenized Security Settlements

The European Central Bank's (ECB) Pontes system is now live, allowing banks to settle trades of tokenized securities in central bank money. According to Simon Taylor, co-founder at 11:FS, this development enables banks to use central bank money for tokenized trades.

Taylor also notes that ECB President Lagarde has renewed her push for a digital euro to compete with stablecoins, but he expresses some skepticism about this initiative.