Europe's central banks want liquidity tests to replace MiCA's stablecoin deposit floors. The proposal leaves licensing and interest restrictions intact.
The ECB launched Pontes with 13 institutions ready to settle tokenized trades and began preparing its own bond purchases. Investment dates remain undecided.
The ECB is preparing to launch Pontes, a system linking distributed-ledger markets to TARGET so wholesale tokenized transactions can settle in central bank money.
ECB workshops, pilot plans, and digital euro design documents show Europe is preparing ATM access, co-badged card rails, and merchant acceptance as tokenization momentum builds.