On September 21, the European Central Bank (ECB) launched the Pontes payment system for blockchain settlements, according to Reuters.
According to the official project website, the Eurosystem solution “connects distributed ledger-based market platforms and TARGET services for wholesale transaction payments.”
Pontes allows banks and investors to conduct transactions in tokenized euros, backed by ECB reserves.
A small group of participants, including Deutsche Bank, Santander, and Clearstream, joined the initial launch. The platform will operate on weekdays from 8:00 to 16:00 (UTC+1). A full release with expanded features is expected in 2027.
Regulators anticipate that Pontes will speed up and simplify transactions by “combining multiple stages of an asset’s lifecycle and automating processes.”
Separately, the ECB announced plans to invest some of its own funds in blockchain securities, specifically high-rated euro-denominated debt issued by government institutions.
According to Reuters, other central banks are developing similar blockchain platforms. The Swiss National Bank is implementing Project Helvetia for securities settlements, while the Bank of England is testing blockchain applications within its Digital Securities Sandbox.
Earlier, on September 15, the ECB opened applications for eurozone electronic and mobile commerce companies to participate in the digital euro pilot.
