European Central Bank: Launching Pontes service to connect payment systems with blockchain financial markets

According to Reuters, the European Central Bank has launched the Pontes service, connecting its payment system with blockchain-based financial markets, allowing banks and investors to complete on-chain transaction settlements using euros supported by the European Central Bank, rather than relying on stablecoins or other private currencies.

The first batch of participating institutions includes Deutsche Bank, Santander Bank, and the clearing institution Clearstream Bank, with the service operating during weekdays from 8:00 to 16:00 Central European Time.