Regulation· ★★★· neutral·

ECB launches Pontes for DLT settlement, but digital euro stays centralized

  • —ECB launched Pontes, a DLT-based settlement system for tokenized bonds
  • —The consumer digital euro will run on a centralized platform, not a blockchain
  • —Digital euro pilot is expected in H2 2027, with issuance planned for 2029
  • —The ECB plans to invest part of its reserves in tokenized government bonds via Pontes
Why it matters: The ECB is bringing DLT into institutional settlement, but the retail digital euro remains centralized and years away, tempering expectations of blockchain-based euro integration.
Source: Crypto Insiders
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