ECB launches wholesale digital euro platform, first use of central bank money in interbank settlements
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On Monday, the European Central Bank (ECB) launched an interbank tokenized payment system called 'Pontes,' marking the debut of the digital euro in wholesale financial markets. The platform allows banks to use central bank money to settle transactions recorded on private decentralized ledgers, which function like shared online inventories. Tokenization involves creating digital versions of assets and currencies for secure online exchange on blockchain-based systems, distinguishing them from existing online money forms. The ECB aims to position central bank money as an alternative to privately issued stablecoins for settling tokenized transactions. Separately, a retail digital euro for transactions between individuals and merchants is also being developed. The ECB argues that both retail and wholesale digital euros are essential for maintaining the freedom and sovereignty of the single currency area. ECB economists have warned that if dollar-denominated stablecoins become widely used for digital transaction settlements in Europe, the region could lose control over its monetary policy.
Source report
September 21 – The European Central Bank (ECB) has introduced a new interbank tokenised payment system, marking the first use of a digital euro in wholesale financial markets, according to the Financial Times.
The platform, named "Pontes" and operated by the ECB, allows banks to settle transactions recorded on private decentralised ledgers—similar to shared online inventories—using central bank money.
Tokenisation refers to the creation of digital versions of assets and currencies, enabling secure online exchanges on blockchain-based systems, distinct from existing forms of digital money.
The ECB is seeking to establish central bank money as an alternative to privately issued stablecoins for settling tokenised transactions. In parallel, a retail digital euro—designed for transactions between individuals and merchants—is also under development.
The ECB argues that both retail and wholesale digital euros are essential to preserving the freedom and sovereignty of the single currency area. ECB economists have warned that if dollar-denominated stablecoins become widely used for digital transaction settlement in Europe, the region could lose control over its monetary policy.
Source
金十数据Neutral / independent
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ECB launches Pontes wholesale settlement platform, digital euro debuts in interbank market