ECB, the European Commission and ESMA launch applications for tokenization standards group, with first draft standards slated for 2028

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ECB, the European Commission and ESMA have opened applications for members of the European Tokenization Standards Group (ETSG), targeting industry associations, global institutions, private companies, fintech companies and technology providers operating in the EU. The application period runs from November 9 to November 27. Selected members will begin work in January 2027, tasked with reaching consensus on standards for the holding and settlement of tokenized securities across different DLT platforms, while ensuring compatibility with the EU’s existing financial system. ETSG plans to publish its first set of standards in early 2028, with ECB, the European Commission and ESMA serving only as non-voting observers.