ECB begins preparatory work for investments in tokenised securities
21 September 2026 Europe
Image: eyetronic/stock.adobe.com
The European Central Bank (ECB) has begun preparing to invest a small portion of its own funds in tokenised securities to gain investor experience and knowledge using distributed ledger technology (DLT) in financial markets.
The ECB鈥檚 non-monetary policy portfolio provides it with income for operating expenses.
The bank hopes to gain first-hand experience throughout the whole investment lifecycle, including trade execution, settlement, systems, and portfolio management.
According to the ECB, the initiative will also support the Eurosystem鈥檚 goal of making central bank money 鈥渇it for the digital age鈥�.
The strategy includes the Eurosystem鈥檚 solution for settling tokenised assets in central bank money, Pontes 鈥� 鈥� and Appia, which aims to deliver a model for a European tokenised financial ecosystem.
Purchases related to the initiative will be settled in central bank money utilising Pontes, with an initial focus on euro-denominated securities issued by euro area and regional governments, agencies, and supranational institutions.
Following the preparatory work, the ECB Executive Board will decide the operational details and timing of investments, accounting for any developments in tokenised issuance and its ecosystem throughout Europe.
The ECB鈥檚 non-monetary policy portfolio provides it with income for operating expenses.
The bank hopes to gain first-hand experience throughout the whole investment lifecycle, including trade execution, settlement, systems, and portfolio management.
According to the ECB, the initiative will also support the Eurosystem鈥檚 goal of making central bank money 鈥渇it for the digital age鈥�.
The strategy includes the Eurosystem鈥檚 solution for settling tokenised assets in central bank money, Pontes 鈥� 鈥� and Appia, which aims to deliver a model for a European tokenised financial ecosystem.
Purchases related to the initiative will be settled in central bank money utilising Pontes, with an initial focus on euro-denominated securities issued by euro area and regional governments, agencies, and supranational institutions.
Following the preparatory work, the ECB Executive Board will decide the operational details and timing of investments, accounting for any developments in tokenised issuance and its ecosystem throughout Europe.
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