During October, Eurex Clearing reported it was involved in repo tokenization trades relating to the European Central Bank’s (ECB’s) wholesale DLT settlement trials. Now Dutch bank ABN AMRO has shared more details about the trials where it was the principal.
It started with ABN AMRO bank issuing €1.1 million in tokenized commercial paper in early October. Rabobank and ABN AMRO Clearing bought the paper. The issuance used Clearstream’s D7 platform and was settled using the Banque de France’s wholesale CBDC (wCBDC). The Bank refers to the wCBDC as ‘exploratory cash tokens’ (ECTs).
No less than four central banks were involved. Apart from the Banque de France there was De Nederlandsche Bank (DNB) (regulates bank participants), the Banque Centrale du Luxembourg (the commercial paper used Luxembourg law), and the Deutsche Bundesbank (Clearstream provided the issuance solution and Eurex, the repo trading platform).
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