ECB starts testing Pontes system for digital euro at banks

The European Central Bank (ECB) is launching the Pontes system today, which allows banks to settle transactions with digital assets. This pilot project is aimed at financial institutions; consumers will not be able to use the digital euro for the time being. Pontes connects blockchain networks with the European TARGET system, enabling banks to settle large amounts in euros. Through Pontes, banks can process digital shares, bonds, and other financial products. The system is designed to test the secure transfer and settlement of digital assets, allowing payments to occur with central bank money. Pontes is not a new cryptocurrency but serves as a bridge between blockchain technology and existing financial systems. The ECB is exploring how digital assets can be integrated into the European financial market in the future with Pontes. A trial for the digital euro for consumers is planned for 2027, with a possible initial issuance in 2029, depending on the approval of European legislation. The ECB is seeking participants for this testing phase, including online shops and vendors.

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