ECB Launches Pontes Service Linking Blockchain Markets to Eurosystem Payments
What happened
The European Central Bank started Pontes, a service connecting blockchain-based markets with the Eurosystem’s payment infrastructure on September 21. This allows banks to settle certain tokenized transactions using central-bank money instead of private digital cash. Deutsche Bank and Santander Group are among the first participants in this service.
From financialcontent.com
Why it matters
The move shows that large financial organizations are moving beyond trials to integrate digital assets with existing money and securities systems. Ethereum is noted for its advantages in round-the-clock operation and programmable transactions within this new infrastructure.
Central banks, including the European Central Bank and Bank of England, are pursuing blockchain initiatives, with major banks adopting new platforms.
From financialcontent.com
Who's involved
- European Central BankLaunched Pontes, a service connecting blockchain markets to payment infrastructure.
- Deutsche BankJoined the first group of participants in the ECB's new payment service.
- EthereumIs a public blockchain platform being integrated into the new payment infrastructure.
- Santander GroupJoined the first group of participants in the ECB's new payment service.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- EthereumSpeculative
Could see increased utility and demand as it is adopted for regulated payment infrastructure by major banks and the ECB.
Keep exploring
The entities involved
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European Central Bank
central bank of the European Union and the eurozone
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Deutsche Bank
German global banking and financial services company
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Ethereum
public blockchain platform with programmable transaction functionality