Home / Business and Economy / ECB Launches Pontes: Central Bank Money for Tokenized Assets
ECB Launches Pontes: Central Bank Money for Tokenized Assets
22 Sep
Summary
- ECB's Pontes system enables central bank money for tokenized asset trades.
- Pontes connects tokenized market ledgers to TARGET Services.
- Ripple's RLUSD and XRP impact minimal in Eurosystem bank-to-bank trades.
The European Central Bank (ECB) has introduced Pontes, a new settlement system facilitating trades of tokenized assets with central bank money. Launched on September 18, 2026, this system connects eurozone banks to the Eurosystem's TARGET Services, settling transactions using direct claims on the ECB, a safer asset than private stablecoins.
Initially, thirteen banks and four ledger operators, including major institutions like Deutsche Bank and Santander, are part of the Pontes network. The system operates during European business hours, with plans for 24/7 availability by mid-2028. During its testing phase from May to November 2024, Pontes successfully settled over €1.5 billion in trades.
This initiative significantly impacts Ripple's plans for its stablecoin, RLUSD, in the Eurozone. While Ripple has a MiCA license, Pontes now serves the exact purpose RLUSD was designed for—wholesale settlement. The ECB's direct involvement in euro bank-to-bank trades preempts private stablecoins from dominating this segment.
Furthermore, a consortium of 37 European banks, including ING and BNP Paribas, is developing its own MiCA-compliant euro stablecoin for a 2026 launch. Pontes's focus on interbank euro settlements leaves opportunities for Ripple's XRP primarily in dollar-denominated transactions, cross-border trades outside the Eurosystem, and non-bank entities, particularly after operational hours or before continuous service is established.
