The Eurosystem is conducting wholesale DLT settlement trials in central bank money. In May the first wave of participants commenced testing and on Friday the European Central Bank shared the second group who start trials next month. While Germany dominated the first group, the latest group of 48 private firms is highly diverse. It also features the Hong Kong Monetary Authority (HKMA) as a participant, to trial cross border or payment versus payment transactions.
No less than 15 market DLT operators are involved in the trials, including two DLT Pilot regime candidates. Most of the big banks with their own platforms are taking part. That includes Credit Agricole CIB, Euroclear (DFMI), Goldman Sachs (GDAP), HSBC (Orion), Iberclear, JP Morgan, SocGen Forge and UBS (Tokenize).
The two DLT Pilot Regime candidates are Germany’s 21X and Lithuania’s Axiology. While they’re not yet in operation given their applications are pending, both have hybrid trading and settlement systems (DLT TSS).
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