ECB President Christine Lagarde announced<\/a> the go-live at a Eurogroup meeting on Friday.<\/p>\n\u201cNow, Pontes is, to summarize it quickly for you, it\u2019s a digital euro made available for banks so that they can transact amongst themselves using tokenized assets and distributed ledger technology,\u201d said Lagarde during a Eurogroup summit on Friday.<\/p>\n
Pontes links market distributed-ledger technology platforms to the Eurosystem\u2019s TARGET Services, enabling participating banks to settle tokenized wholesale transactions in central-bank money. It will only be available to eligible financial institutions and market infrastructure providers.<\/p>\n
Tokenized bonds, funds and other financial assets need a reliable way to settle the cash side of a trade. Pontes gives European institutions a central-bank-money option, rather than requiring them to rely solely on stablecoins or tokenized commercial-bank deposits.<\/p>\n
The platform is part of the ECB\u2019s broader effort to keep central-bank money at the core of Europe\u2019s increasingly tokenized financial markets. The ECB has said Pontes will be developed in stages, alongside its longer-term Appia initiative for wholesale tokenization.<\/p>\n","protected":false},"excerpt":{"rendered":"The European Central Bank (ECB) launched Pontes on Monday, a platform that enables banks and other eligible financial…\n","protected":false},"author":2,"featured_media":855438,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[28,199442,83236,112,38951],"class_list":["post-855437","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-cbdc","tag-ecb","tag-markets","tag-tokenization"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/855437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=855437"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/855437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/855438"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=855437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=855437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=855437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}