ECB Executive Board member Schnabel calls for central-bank money to move onchain, with the Pontes initiative launching next month to connect DLT platforms to existing payment infrastructure.
Regulation & Gov ·
An ECB Executive Board member has advocated for placing central-bank money on blockchain networks, arguing that distributed ledgers' programmable capabilities can enhance how monetary policy, collateral management, and liquidity are handled. Isabel Schnabel made the case that central banks should adopt this infrastructure shift.
The ECB is preparing to roll out its Pontes initiative in the coming month, designed to integrate distributed-ledger technology platforms with the existing TARGET payment system. A longer-term effort called Appia is slated to have its blueprint completed by 2028. The institution is currently evaluating multiple architectural approaches—whether to consolidate activity on a single unified ledger or to connect separate ledgers together.
It remains unclear which model the ECB will ultimately favor or how quickly deployment across its member states might proceed.