The Eurosystem’s distributed ledger technology (DLT) settlement project Pontes is scheduled to launch on September 21, supporting the settlement of tokenized securities and other wholesale transactions in central bank money. Clearstream is conducting end-to-end testing covering system connectivity, settlement processes, and operational readiness, while Axiology is progressing through testing and certification for securities issuance, secondary-market trading, redemptions, and coupon payments. Pontes will connect multiple market DLT platforms to the Eurosystem’s TARGET services and support synchronized settlement, including delivery-versus-payment, through a Hash-Link mechanism. The European Central Bank has removed the project’s “pilot” label, positioning it as a production-grade operational service. Initially, cash-leg settlement finality will follow completion of the corresponding funds transfer in T2, with only a one-time access fee charged. Operating hours are expected to expand gradually toward 24/7 service and multicurrency capabilities by mid-2028.