ECB to accept DLT-based assets as collateral from March 2026

The European Central Bank (ECB) announced that, from 30 March 2026, it will accept marketable assets issued in central securities depositories (CSDs) using distributed ledger technology (DLT) as eligible collateral for Eurosystem credit operations.

These assets must meet the Eurosystem’s collateral eligibility criteria, including availability for settlement in compliant securities settlement systems reachable via TARGET2-Securities (T2S). They will be managed according to existing collateral practices.

The ECB is exploring ways to expand eligibility to assets issued and settled entirely on DLT networks, considering legal, regulatory, and market developments such as the CSD Regulation, DLT Pilot Regime Regulation, and Markets in Crypto-Assets Regulation (MiCAR).

This initiative reflects the Eurosystem’s commitment to innovation, technological progress, and market efficiency, supporting the integration of European capital markets. A phased approach will be used to gradually include DLT-based assets as collateral, based on market and legal developments.