In 2021, Deutsche Börse unveiled D7, its digital securities platform. To date its post trade subsidiary Clearstream has hosted the issuance of several billion euros of securities, but all using its centralized depository. Today Clearstream announced it issued its first transactions for commercial paper on the decentralized D7 DLT. Two €5 million papers were issued, one by DekaBank and the other by DZ Bank, with the banks acting as investors in each other’s bonds. The transactions formed part of the Eurosystem wholesale DLT trials using central bank money for settlement.
In this case the transactions were settled using the Bundesbank Trigger solution, which links to the TARGET2 payment system. Both the issuances and the settlement were real transactions.
“With our new D7 DLT, launched for the ECB trials, we provide seamless processing of digital assets and high-quality cash on-chain, which is an important step in developing a digital European securities landscape,” said Jens Hachmeister, Head of Issuer Services & New Digital Markets at Clearstream.
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