{
  "id": 19601999,
  "title": "Europe’s tokenisation race will not wait for a 2028 blueprint",
  "url": "https://urgent.news/2026/11/12/europes-tokenisation-race-will-not-wait-for-a-2028-blueprint",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-12T04:00:37.000Z",
  "source": {
    "name": "e27",
    "slug": "e27",
    "url": "https://e27.co/europes-tokenisation-race-will-not-wait-for-a-2028-blueprint-20261106/"
  },
  "original_language": "en",
  "account": "Europe risks overestimating the immediate impact of a tokenization infrastructure blueprint due in 2028. While a technically capable network is valuable, businesses may face significant challenges when integrating it, such as rebuilding applications and changing custody arrangements. Pontes, launched in September 2026, allows wholesale transactions in tokenized assets to settle in central bank money, connecting market distributed ledger platforms with the Eurosystem's TARGET services. However, the timeline for Pontes' 24/7 service and the broader Appia initiative, both aimed for delivery in 2028, may be too late for businesses to make critical infrastructure decisions. Integrating a new network can be costly and complex, with potential risks if the ecosystem develops around separate environments. Therefore, businesses should carefully consider the costs and benefits before committing to a particular infrastructure.",
  "summary": "Europe risks underestimating a major cost of building tokenised financial markets: persuading businesses to adopt the infrastructure once it exists. A technically capable network has limited commercial value if connecting means rebuilding applications, changing custody arrangements and asking customers to move with you. That should shape how we judge the Eurosystem’s tokenisation strategy.…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}