Tokenisation is moving from experimentation to early adoption
- Settlement in euro central bank money is now available: since the launch of Pontes on 21 September 2026, distributed ledger technology (DLT) transactions can be settled in central bank money. DLT-based assets are being integrated into the collateral framework: since March 2026,
- DLT-based assets issued in central securities depositories (CSDs) can be mobilised as eligible collateral in Eurosystem credit operations.
- Interest from sovereign and supranational issuers is growing: engagement with European sovereign issuers indicates significant interest in exploring tokenised issuance. Eurogroup+ issued a statement on digital finance (9 July 2026).
- Market infrastructures are adapting: European CSDs have launched services for DLT-issued securities that operate alongside existing infrastructure.
- The trend is not confined to Europe: SEC staff no-action relief (December 2025) allows DTCC to tokenise existing securities for three years
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