ECB unveils tokenised asset platform
The European Central Bank has launched Pontes, a wholesale settlement platform built to process tokenised assets using central bank money. The initiative consolidates critical functions, issuance, trading, custody, and servicing, into one integrated workflow. At its debut, Pontes will offer a foundational suite of services, with future enhancements guided by market needs and technical progress.
Tokenised assets, digital equivalents of stocks, bonds, or property, are reshaping financial markets by cutting inefficiencies. Pontes tackles a core issue: settling these assets in central bank money instead of commercial bank funds. This approach slashes counterparty risk and accelerates transaction finality, a critical advantage for large-scale trades.
The ECB emphasizes that Pontes will start with essential functions, later expanding based on feedback from users and regulators.
In parallel, Evergreen.ai, a financial planning app created by former PayPal executive Bill Harris, has launched after three years in development. The platform leverages AI to consolidate account, investment, and credit data before generating tailored retirement and tax strategies. Harris, who previously co-founded Personal Capital and Nirvana Money, markets Evergreen as a fully automated alternative to traditional financial advisors.
Unlike competitors, Evergreen’s AI monitors finances in real time rather than relying on periodic portfolio reviews. As a registered investment advisor, it can provide compliant recommendations, unlike many robo-advisors limited to passive asset allocation.
A third fintech introduction this month is PhoenixWorx, a unified core banking solution from Cora Group. The platform merges four acquired systems, Phoenix Core Banking, Malauzai Digital Banking, Enterprise Content Management, and Analyzer IQ, into a cloud-based framework. Already deployed across over 200 organizations, PhoenixWorx connects with more than 130 third-party providers, offering banks modular upgrades for digital transformation.
Small business lending gained attention with Moxie Money, a new platform founded by former Funding Circle CEO Steve Allocca. The service automates loan applications for growth-stage businesses, initially focusing on SBA loans between $50,000 and $350,000. Moxie partners with WebBank, a Utah-based lender, to process these loans.
