Last week the European Central Bank (ECB) announced the first set of participants for its wholesale DLT settlement trials using real central bank money. Deutsche Börse-owned Clearstream will participate with multiple subsidiaries and its D7 digital securities platform. It’s part of the first wave of pilots that commence in May.
The ECB wholesale DLT trials involve three ways to use central bank money for settlement. Clearstream plans to use all of them to execute various delivery versus payment (DvP) use cases. The Banque de France will provide a wholesale central bank digital currency (CBDC). Germany’s Bundesbank has its Trigger solution linked to the TARGET2 central bank payment system. And the Bank of Italy has its Tips Hashlink offering.
Clearstream is the only central securities depository (CSD) participating in the first wave of trials. That includes its German Clearstream Banking subsidiary, Luxembourg subsidiary LuxCSD, and Luxembourg-based international CSD, Clearstream Banking Luxembourg.
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