The European Central Bank (ECB) has initiated a dual approach to integrate distributed ledger technology (DLT) transactions with central bank money, aiming to modernize Europe’s financial landscape. The first initiative, named Pontes, seeks a short-term solution by connecting blockchain-based DLT platforms with TARGET Services, which facilitate payments and securities in the eurozone. A pilot for Pontes is anticipated to commence by late 2026, utilizing insights from the ECB’s 2024 DLT trials involving over 50 experiments and 64 participants. The ECB emphasized its commitment to fostering innovation while ensuring safety and efficiency in financial infrastructures. The second initiative, Appia, focuses on a long-term vision to create a cohesive ecosystem in Europe that supports secure global operations. The ECB will continue to explore DLT applications in wholesale settlements and engage with industry stakeholders through market contact groups. This initiative aligns with global efforts to leverage blockchain for efficient settlements while maintaining monetary control. Read more AI-generated news on: https://app.chaingpt.org/news