ECB Sets Q3 2026 Launch for Pontes DLT Settlement System to Support Tokenized Wholesale Markets

The European Central Bank released its Appia roadmap as a strategic framework to develop tokenized wholesale financial markets in Europe, with settlement anchored in central bank money, the ECB said. The plan introduces Pontes as a distributed ledger technology settlement system operated within the Eurosystem, designed to link tokenized market infrastructure with existing TARGET payment services such as TARGET2, T2S and TIPS, with launch scheduled for Q3 2026. Under the roadmap, Appia defines the broader structure for Europe's tokenized financial ecosystem while Pontes functions as the operational core connecting DLT-based markets to euro-denominated payment and securities settlement systems across the euro area. The ECB opened a public consultation inviting banks, firms, technology providers and other stakeholders to comment on the roadmap and to propose contributions to the Appia infrastructure.