Our Member Cashlink Joins ECB’s Pontes Initiative
Our member Cashlink is among the DLT operators registered for the initial launch of the Eurosystem’s new Pontes initiative in September 2026. Pontes is designed to create an important connection between digital securities and Europe’s existing infrastructure for settling payments in central bank money. Pontes thereby addresses a key question for the further development of digital capital markets: How can transactions involving digital securities be connected with Europe’s established payment and settlement infrastructure?
What is Pontes?
Every securities transaction has two sides: the security changes ownership and the corresponding payment is settled. The same applies to digital or tokenised securities: both sides of the transaction need to be connected securely and reliably. This is where Pontes comes in. The Eurosystem’s new infrastructure is designed to connect DLT-based market infrastructures with existing TARGET Services, enabling transactions involving digital securities to be settled in central bank money. This creates a bridge between new DLT-based capital market infrastructures and the established infrastructure of Europe’s financial system.
Why Cashlink’s Participation Matters?
The participation of our member Cashlink in the initial launch of Pontes demonstrates how companies from Germany’s digital investment ecosystem are contributing to the further development of European capital market infrastructure. Pontes brings DLT-based capital market infrastructures and the Eurosystem’s existing infrastructure closer together. The initiative therefore represents another step towards an integrated and regulated digital capital market in Europe. The initial launch of Pontes is scheduled for September 2026.
Further information: Learn more about digital capital market infrastructure and Eurosystem initiatives on our member Cashlink’s website.
Quick Guide
Security
A financial instrument representing a financial right or interest, for example, a share or a bond. Today, securities generally no longer exist as physical pieces of paper.
Digital Security
A security that is issued and managed electronically. DLT-based or tokenised securities can use distributed ledger infrastructure for this purpose.
DLT – Distributed Ledger Technology
Technology that allows transactions and ownership records to be stored and synchronised across a network.
Eurosystem
The European Central Bank (ECB) and the national central banks of the countries that use the euro.
TARGET Services
Infrastructure provided by the Eurosystem for settling payments and securities transactions in central bank money.
Central Bank Money
Money issued by a central bank. In the financial system, it is used, among other things, for the secure and final settlement of transactions between financial institutions.
