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ARTICLE · 11 MARCH 2026

Central Bank Issues Discussion Paper On DLT & Tokenisation In Financial Services

Arthur Cox
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The Central Bank of Ireland (the "Central Bank") today published its awaited Discussion Paper 12 ("DP12") on Distributed Ledger Technology ("DLT") and tokenisation in financial services...

IrelandFinance and Banking
Ian Dillon
Ian Dillon
Dara Harrington
Dara Harrington
Kevin Murphy
Kevin Murphy
Tara O'Reilly
Tara O'Reilly
Cormac Commins
Cormac Commins
Siobhan McBean
Siobhan McBean
Stephanie Hanrahan
Stephanie Hanrahan
Christopher O'Reilly
Christopher O'Reilly
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Overview

The Central Bank of Ireland (the "Central Bank") today published its awaited Discussion Paper 12 ("DP12") on Distributed Ledger Technology ("DLT") and tokenisation in financial services, with the aim of stimulating dialogue on the future role of DLT and tokenisation within the Irish and European financial services ecosystem. Stakeholders are invited to submit responses to the questions posed in DP12 by 5 June 2026.

What is tokenisation?

Tokenisation refers to the issuance or representation of assets in the form of digital tokens using technologies such as DLT, encompassing both "digitally native" tokens issued directly on DLT and "non-native" tokens that are digital representations of assets originally issued elsewhere. DLT systems also enable smart contracts, which could play a central role in transforming financial services by enabling programmability through executable contractual and procedural actions based on pre-defined criteria.

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