Central Bank of Ireland Discussion Paper on Tokenisation and DLT

CBI Press Releases

Published March 5th, 2026

Detected March 18th, 2026

Summary

The Central Bank of Ireland has launched a discussion paper to examine the potential role of Distributed Ledger Technology (DLT) and tokenisation in the financial system. Stakeholders are invited to provide insights on opportunities, challenges, and risks associated with these innovations.

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What changed

The Central Bank of Ireland has published a discussion paper seeking input on the implications of Distributed Ledger Technology (DLT) and tokenisation for the financial services sector. The paper aims to understand how these technologies can transform financial infrastructure, create new services, and intersect with existing systems, while also assessing associated opportunities, challenges, and risks. The publication is part of the bank's effort to understand these innovations to ensure monetary and financial stability, consumer protection, and market integrity.

Market participants, technology providers, academics, and policymakers are encouraged to submit their insights by June 5, 2026. The Central Bank will use this feedback to inform its approach to enabling DLT and tokenisation, ensuring that Ireland and the EU can leverage potential benefits while maintaining a resilient financial system. This consultation is a crucial step for entities involved in financial services to shape the future regulatory environment for these emerging technologies.

What to do next

Review the Central Bank of Ireland's Discussion Paper on Tokenisation and DLT.
Prepare and submit feedback on the opportunities, challenges, and risks of DLT and tokenisation by June 5, 2026.
Assess potential impacts of DLT and tokenisation on existing financial services and compliance frameworks.

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Central Bank of Ireland Launches Discussion Paper on Tokenisation and Distributed Ledger Technology in Financial Services

05 March 2026 Press Release

Central Bank of Ireland today published a Discussion Paper examining the potential role of Distributed Ledger Technology (DLT) and tokenisation in the financial system (PDF 1.37MB).

Deputy Governor Vasileios Madouros, commenting on the publication, said:

“Distributed ledger technology and tokenisation have the potential to transform how financial services are delivered. We believe this technology, if enabled and deployed correctly, can change the financial system for the better, including by helping the EU deliver on its ambitions for a Savings and Investment Union.

“Technology – in and of itself – will not be sufficient to deliver the potential benefits for users of financial services. That requires establishing the right enabling environment and ensuring that central bank money remains at the heart of a future tokenised financial system,” Madouros added.

“To deliver our mandate effectively into the future, we need to understand the possibilities stemming from tokenisation in finance and the implications of this innovation for the public policy outcomes we are seeking to achieve: monetary and financial stability, protecting consumers and investors, and upholding market integrity. Through this Discussion Paper, we want to engage with stakeholders on a range of topics spanning tokenisation in markets, investment funds, money and payments.

“I encourage all stakeholders – market participants, technology providers, academics, and fellow policymakers—to share their insights. That engagement will help inform our approach and ensure that Ireland and the EU can leverage the benefits of tokenisation, while safeguarding a resilient financial system, that operates in the best interests of consumers and wider economy.”

Our Discussion Paper aims to:

Increase our understanding of DLT and its potential to transform the underlying infrastructure of finance and create new innovative financial services
Assess the opportunities, challenges, enablers (including legal and regulatory clarity, operational resilience and scalability, and interoperability) and risks arising from these technological innovations
Examine how DLT and tokenisation interact and intersect with existing financial infrastructures, intermediaries and product offerings
Ensure that the use of DLT and tokenisation in financial services deliver the benefits of efficiency, transparency, and accessibility for the welfare of society as a whole.