ECB Launches Pontes for Tokenized Asset Settlement

The European Central Bank launched Pontes on Monday, a new platform enabling financial institutions to settle wholesale tokenized asset transactions using central bank money. The system, which went live on September 21, 2026, connects distributed ledger technology platforms with the Eurosystem's existing TARGET payment infrastructure. Pontes provides a settlement option for the cash leg of tokenized trades, such as bonds and funds, using central bank reserves. This offers an alternative to settling with stablecoins or commercial bank deposits, which carry credit risk. The ECB stated that access to central bank money could provide a trusted settlement asset as tokenized markets expand. The platform is designed for wholesale transactions between banks and market infrastructure providers, not for retail consumers. It is separate from the ECB's ongoing project to develop a digital euro for everyday payments by households and businesses. ECB President Christine Lagarde confirmed the launch, stating the platform will connect private blockchain networks with the TARGET system.