The European Central Bank (ECB) Governing Council approved (DLT) Transactions, such as the body looks to make its payment systems better.
A short term approach is called “Pontes” that will link DLT platforms with target eurosystem services that ensure cash flow and security throughout Europe. A pilot will be launched by the third quarter of 2026. A more long-term solution called “Appia” will facilitate global operations and analyze DLT-based solutions, The post said on Tuesday.
“The decision is in accordance with the promise of the eurosystem in support of change without compromising safety and efficiency in financial market infrastructure,” the release said.
ECB explores how DLT technology can be used to boost the regulating payments, something which The central banks around the world are being viewed. It conducted exploratory work on wholesale Central Bank Money Settlement between May and November 2024. A Report In the results of this work it was also published on Tuesday that recognized the availability of DLT benefits such as reducing costs and counting on credit risks and negotiations.
Read more: ECB targets October to finish the digital euro preparation stage
