The European Central Bank will allow certain DLT‑issued assets to be used as collateral in Eurosystem credit operations from 30 March 2026 as it takes a step toward integrating DLT into Europe’s financial market infrastructure.
The move signals the ECB’s intent to prepare for a more digital capital‑markets environment as issuance models evolve.
Under the change, the Eurosystem will accept marketable assets issued in central securities depositories that provide DLT‑based services, as long as they meet existing collateral and settlement requirements, including settlement via TARGET2‑Securities. The ECB says these instruments will be mobilised in the same way as traditional securities, ensuring operational consistency for counterparties.
The central bank has also launched a broader work plan to explore how assets issued and settled entirely on DLT platforms—outside traditional securities settlement systems—could become eligible in future. This phased approach will take into account market adoption, regulatory frameworks such as the CSD Regulation, the DLT Pilot Regime and MiCAR, and the pace of digital issuance. According to the ECB, the initiative reflects its commitment to innovation, efficiency and deeper capital‑markets integration across the euro area.
