The European Central Bank (ECB) has launched a survey targeting potential participants in its wholesale central bank digital currency (wholesale CBDC) trials. Rather than a ‘call’, the survey aims to measure the levels of interest in participation, with a formal call planned this quarter. However, we believe this is the ECB keeping its options open. So potential participants should respond to the survey by the end of October.
Strictly the trials are not just for a digital euro. They are for wholesale financial transactions using distributed ledger technology (DLT). Hence, it includes delivery versus payment (DvP) and, to a lesser extent, payment versus payment (PvP).
The plan is to test three settlement solutions, including two that link to existing euro payment systems (from the central banks of Germany and Italy) and one wholesale CBDC developed by the Banque de France.
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