The European Central Bank has launched Pontes, a production settlement service linking distributed-ledger technology platforms to the Eurosystem's TARGET Services so tokenized securities can settle against central bank money. The ECB also plans to invest a modest share of its own-funds portfolio in euro-denominated tokenized securities issued by euro-area public-sector entities and European supranational institutions, with all purchases settled through Pontes. The investments will use a non-monetary-policy portfolio that helps finance the ECB's operating expenses, separating the initiative from monetary-policy operations. Pontes uses its Hash-Link protocol to synchronize securities transfers and payments, aiming to complete delivery and payment together. The service follows 2024 Eurosystem settlement trials and will expand participants, capabilities and operating hours gradually, with full rollout planned for 2028. Appia, a parallel Eurosystem project, is developing a blueprint for a wider European tokenized-finance ecosystem by 2028.