21 September 2026

• ECB has launched preparatory work to gain practical experience with investments in tokenised securities and distributed ledger technology (DLT)
• Transactions to be settled in central bank money in Pontes, the Eurosystem’s settlement solution for DLT transactions
• Initial investments to focus on euro-denominated euro area public sector and European supranational securities

The European Central Bank (ECB) has launched preparatory work to invest a small portion of its own funds in tokenised securities. This will enable the ECB to gain practical experience as an investor and build institutional expertise in the use of distributed ledger technology (DLT) in financial markets. The own funds portfolio is a non-monetary policy portfolio that provides the ECB with income to help fund operating expenses, excluding those related to the delivery of its supervisory tasks.

This step will also support the Eurosystem’s strategy to make central bank money fit for the digital age….