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Eurosystem invites expressions of interest in wholesale DLT trials

Eurosystem invites expressions of interest in wholesale DLT trials

The European Central Bank is inviting expressions of interest from financial market stakeholders in participating in trials of new technologies for wholesale central bank money settlement.

The practical exploratory work consists of trials with central bank money (CeBM) settlement and in experiments with mock settlement in a test environment.

Operating across three central bank platforms supplied by Deutsche Bundesbank, Banca d'Italia and the Banque De france, the trials will cover delivery-versus payment (DVP) in CeBM of DLT-based digital assets denominated in euro as well as a broad range of operations related to the securities' lifecycle management.

Exploratory work could also cover cross-currency and cross-border payments in CeBM as well as automated wholesale payments in CeBM in relation to the use by commercial banks of 'deposit tokens' with a need for CeBM wholesale settlement.

Financial market stakeholders interested in participating in the trials and/or experiments between May 2024 and November 2024 are invited to respond to the relevant national central banks by 31 January 2024.

The Eurosystem began its initial exploratory work on the use of DLT for wholesale setlement in April.

The European Central Bank says it will offer key insights into its findings work in a focus session to be held between 9:00 and 14:00 CET on 15 December 2023. At this event, the objectives of the work will be outlined and details will be provided on the planned trials and experiments, showcasing the three potential solutions.

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