Clearstream Joins ECB Trials for Digital Euro CBDC
Clearstream, a subsidiary of Deutsche Börse Group, will join European Central Bank (ECB) trials testing digital euro wholesale central bank digital currency (CBDC).
As the sole central securities depository (CSD) in the initial phase of ECB’s preparatory trials, Clearstream, managing the D7 post-trade platform, will explore DLT components and strengthen connections with key digital payment solutions across the Eurosystem.
Under the leadership of Jens Hachmeister, Head of Issuer Services and New Digital Markets at Clearstream, the D7 digital securities infrastructure will be expanded with Google Cloud’s collaboration.
The trials will involve testing distributed ledger technology for wholesale transactions with tokenized securities, integrating with central bank products like Deutsche Bundesbank’s Trigger Solution, Banca d’Italia’s TIPS Hash-link, and Banque de France’s Full DLT Interoperability.
READ MORE: S&P Downgrades Five Regional Banks Amid Commercial Real Estate Concerns
Scheduled from May to November, the trials will encompass euro-denominated issuances and delivery-versus-payment transactions across various use cases and payment models, utilizing real central bank money.
Clearstream’s involvement underscores the ECB’s digital euro research preparatory phase, initiated in October, with tests following a two-year investigative phase and a vendor call issued in January.
Additionally, the Bank of Korea collaborated with Banca d’Italia in exploring settlement systems and CBDC after working with similar DLT technology in 2021.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
