Definition
Tokenised finance refers to the issuance, trading, and settlement of traditional financial instruments (stocks, bonds, securities) as digital tokens on distributed ledgers, with settlement in risk-free central bank money rather than private stablecoins.
Key Points
- 2026-09-21: Eurosystem launches pontes — wholesale tokenised settlement in central bank money; first operational step in EU strategy (2026-09-21-eurosystem-pontes-tokenised-finance)
- 2024 Eurosystem DLT tests showed risk-free settlement asset is crucial for adoption
- appia-blueprint targets integrated DLT ecosystem blueprint by 2028
- Distinct from retail cbdc / digital-euro debates — Pontes serves institutional wholesale markets