23 April 2025

• Danish krone available for settlement in T2 and TIPS
• TARGET Services provide safe and efficient financial market infrastructures for Danish financial markets
• All TARGET Services now multi-currency

As of 22 April 2025, Danish market participants are able to settle wholesale and retail payments in Danish krone instantly in the Eurosystem’s T2 and TARGET Instant Payment Settlement (TIPS) services. Following a successful migration, Danmarks Nationalbank has become the first non-euro area central bank to participate in all three TARGET Services with its currency. Settlement in Danish krone has already been available in TARGET2-Securities since 2018.

By using T2 and TIPS, Danish financial markets will benefit from common standards with the euro area, optimised liquidity management and strengthened IT security, allowing efficient and secure real-time settlement of wholesale and retail payments.

This achievement is a result of the close collaboration between Danmarks…