Central securities depository Clearstream, which is part of Deutsche Börse Group, will take part in the European Central Bank (ECB’s) experiments for a digital euro, also known as wholesale central bank digital currency (CBDC). Clearstream, which manages the D7 post-trade platform, is currently the only central securities depository (CSD) participating in the ECB’s early-stage preparation trials.
In the upcoming partnership, we will experiment with implementing sections of distributed ledger technology (DLT) for trading tokenized securities in bulk. This trial will run from May through November of this year, utilizing real central bank currency for the transactions.
Clearstream’s partnership with Google Cloud to broaden the reach of its D7 digital securities system demonstrates their commitment to linking up with prominent European digital payment systems. The experiments will cover euro-based securities issues and delivery-versus-payment (DvP) transactions across diverse applications and payment structures.
Additionally, Clearstream’s participation in SWIFT’s trials of CBDCs and tokenized assets in 2022 demonstrates their forward-thinking attitude towards adopting new technologies in the financial industry.
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2024-04-09 01:25