The European Central Bank (ECB) has launched a new service that connects its payment system to blockchain-based financial markets, and announced it will invest a portion of its own funds in digital securities. The service, called Pontes, officially went live on September 21, 2026. The move is seen as part of broader efforts by central banks to adapt to the growing use of blockchain in the financial world.
How Does Pontes Work?
Pontes allows banks and investors to settle their blockchain-based transactions in ECB-backed euros, rather than in stablecoins or other private forms of money. The system connects market-operated distributed ledger technology (DLT) platforms to the Eurosystem’s existing TARGET infrastructure, meaning that securities transactions do not all need to be migrated to a single blockchain network. The platform will initially operate on business days between 08:00 and 16:00 Central European Time, with plans to expand its hours over time. The ECB stated that the technology has the potential to make transactions faster and more efficient by consolidating multiple steps in an asset’s lifecycle and enabling automation.
Deutsche Bank and Santander Among Early Users
The ECB announced that the initial group of users includes institutions such as Deutsche Bank, Santander, and clearing giant Clearstream, all of which have completed the integration process and can use Pontes from day one. The legal settlement finality on the cash side of the system remains tied to the Eurosystem’s TARGET2 infrastructure during the launch phase.
ECB to Also Invest in Tokenized Securities
The central bank also announced that it will invest a small portion of its €23 billion in own funds into blockchain-based securities. The investments are planned to focus on high-rated, euro-denominated debt instruments issued by public sector entities.
