ECB to invest part of own funds in tokenised securities, with settlement via Pontes
What changed vs prior statement
- 01No material change in policy stance vs prior statement.
- 02Language essentially preserved across inflation and economic growth expectations.
- 03No vote-record change.
From the original
PRESS RELEASE ECB to invest part of own funds in tokenised securities, with settlement via Pontes 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 s
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Piero Cipollone: Digital assets, payment efficiency and monetary policy
The desk views the ECB's proactive stance on digital assets as a pivotal moment for the eurozone's financial landscape, particularly in enhancing payment efficiency and monetary policy effectiveness. Per the full note [source], Piero Cipollone emphasized the necessity of tokenised central bank money to facilitate a robust digital finance ecosystem. This aligns with our consensus target of 1.075 for EUR/USD, as firms anticipate a significant shift in liquidity dynamics and market structure due to these innovations. The upcoming CPI data on June 2 could serve as a catalyst for market reactions to these developments.