EU seeks nominations for stakeholder group on tokenisation standards in finance
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The ECB, the European Commission and ESMA sponsor an industry group, the European Tokenisation Standards Group (ETSG), to agree technical standards that make DLT-based market infrastructures interoperable. They open a call for nominations.
Key points
- Objective: end-to-end interoperability and a 'single rulebook' for the settlement and custody of tokenised instruments across DLT infrastructures.
- Led by industry; the ECB, the Commission and ESMA participate only as observers.
- It will create a framework to monitor compliance with the standards and may recommend incentives to the authorities.
- It fits with the MISP package (December 2025, reform of the DLT Pilot Regime) and with Appia, the Eurosystem initiative.
Who is affected
Market infrastructures, CSDs, custodian banks, fintech/DLT firms and industry associations.
Deadlines
Nominations until 27 November 2026. Expected start in January 2027.
Plain-language version
ESMA, the EU's stock market watchdog, together with the ECB and the European Commission, is setting up an industry group to agree common technical standards for tokenisation, meaning turning shares or bonds into digital tokens. The goal is for different platforms to work together. The authorities will only observe. Applications close on 27 November 2026 and the group starts in January 2027.
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