EU Central Bank Commits to Distributed Ledger Technology Settlement Work
Main Idea
The European Central Bank (ECB) has approved the use of Distributed Ledger Technology (DLT) for payment settlements, aiming to enhance efficiency and reduce costs in its payment systems.
Key Points
1. The ECB Governing Council has approved DLT for transactions to improve payment system efficiency.
2. Short-term solution 'Pontes' will link DLT platforms with Eurosystem TARGET services by Q3 2026.
3. Long-term solution 'Appia' will facilitate global operations and analyze DLT-based solutions.
4. A report highlighted DLT benefits such as cost reduction and mitigation of credit and settlement risks.
5. The ECB has been exploring DLT since 2024 to boost payment efficiency.
Description
The European Central Bank (ECB) Governing Council has approved research efforts that will use central bank money to settle distributed ledger technology (DLT) transactions, as the body looks to make its payment systems more efficient. One short term approach is called "Pontes" which will link DLT platforms with Eurosystem TARGET services that ensure the flow of cash and securities across Europe. A pilot will be launched by the third quarter of 2026. A more long term solution called "Appia" will ...
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