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The European Central Bank intends to assess the functionality of DLT systems in managing tokenized assets and the digital euro (CBDC) utilizing the D7 trading platform from Clearstream.
Clearstream, the global central securities depository, has joined the European Central Bank’s initiative to investigate the capabilities of distributed ledger technology (DLT) in the settlement of wholesale central bank money, focusing on the digital euro and tokenized assets. This initiative will take place on the D7 trading platform.
Clearstream ranks among the largest international securities depositories, holding over €18 trillion in assets under custody and operating as a subsidiary of Deutsche Börse Group. D7 is a post-trade platform introduced by Deutsche Börse in 2021 for the trading of tokenized securities, which is directly overseen by Clearstream.
The objective of the trial is to examine the issuance of the digital euro, various payment models and CBDC applications, as well as the implementation of a DvP settlement model for both on- and off-exchange transactions involving tokenized assets. Additionally, there are intentions to enhance the interoperability of DLT systems with the primary digital payment solutions present in the Eurosystem.
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The press release indicates that Clearstream has enhanced the capabilities of D7 with essential DLT advancements utilizing Google Cloud technologies, facilitated by a strategic alliance between Deutsche Börse Group and Google Cloud.
The trials are set to take place from May to November 2024. During this period, Clearstream will connect with all available DLT systems of European central banks, including:
- Trigger Solution from Bundesbank;
- TIPS Hash-link from Banca d’Italia;
- Full DLT Interoperability from Banque de France.
Clearstream regularly engages in various initiatives aimed at investigating CBDCs, tokenization, and DLT. In October 2022, Clearstream participated in an experiment where SWIFT representatives successfully integrated asset tokenization platforms with different payment systems.
In 2023, Clearstream took part in a SWIFT project to explore the feasibility of merging various blockchains within its infrastructure to simplify the settlement of tokenized assets, as well as utilizing the Cross-Chain Interoperability Protocol (CCIP) from Chainlink Labs for this purpose.
Сообщение ECB to Study DLT Systems in Dealing with Tokenized Securities появились сначала на CoinsPaid Media.
