ESMA_QA_2926

21/09/2026

Subject Matter

CSDs settlement assets

Original question

Under the current CSDR framework, are CSDs allowed to settle in: a) tokenised central bank money, b) tokenised commercial bank money, and c) e-money tokens?

Status: Question Published

Additional Information

Level 1 Regulation

Central Securities Depositories Regulation (CSDR) Regulation (EU) No 909/2014- PTR- CSDR

Additional Legal Reference

Article 40

Topic

CSD questions - Requirements for CSD services (reconciliation measures, asset segregation, settlement finality, participant default rules and procedures)