Notification from the European Central Bank (ECB) on the launch of the Pontes project, an initiative using distributed ledger technology (DLT) and tokenized assets to support wholesale bank transactions.

Key points:

🏅Pontes Project: This is the DLT solution of the single Euro payments area system, designed to connect market DLT platforms with TARGET services to enable payments using central bank money.

- A two-pronged approach: The ECB is rolling out a program consisting of two main projects—Pontes (already underway) and Apaya (focused on developing a blueprint for a future DLT-based financial market).

💴 Role of cryptocurrency projects: the link between ECB initiatives and several blockchain projects:

- Stellar ($XLM ): Mentioned through a partnership with 21x, a financial market infrastructure managed in the EU that participates in ECB projects.

- Chainlink ($LINK ): Named as 21x’s strategic partner to provide high-quality data and cross-chain interoperability capabilities.

🚨Key features of 21x include:

+ Legal standing: This is the first entity in the EU that is regulated to provide matching, trading, settlement, and registration services for encrypted financial assets under the EU DLT pilot regime.

+ Multi-chain capability: 21x operates as a technology-agnostic platform, enabling integration with various blockchain networks. It has currently integrated the Stellar network and uses Chainlink to provide price data and support cross-chain interoperability.

- Ripple ($XRP ): older documents from the ECB and BIS mention XRP and the Interledger Protocol (ILP) as part of research on cross-border payments.

👍The key message is that the world is witnessing a major shift in the global financial order, with DLT technology playing a core role in the new financial ecosystem.#laxonoong