Last month the European Central Bank (ECB) held the second meeting for the working group that’s exploring how to settle DLT transactions with central bank money, including a wholesale CBDC. The ECB clarified that the trials will involve experiments and real money with the onboarding to start later this year and the tests to commence in Q2 of 2024.
While it will be possible to settle with real cash, that option will only be available on certain days and for a limited number of hours. And it is only available intraday so cannot be carried overnight.
Nine months have been earmarked for the experiments but a poll of the more than 50 commercial participants indicated a preference for up to six months of trials.
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