LiquidShare, a fintech leveraging blockchain technology to develop solutions for post-market players and its partners, AXA Investment Managers, BNP Paribas Securities Services, Caceis Bank, Caisse des Dépôts, CIC Market Solutions, Crédit Agricole Titres, EUROCLEAR, EURONEXT, Kriptown, La Banque Postale, ODDO BHF, ODDO BHF AM, OFI AM and Société Générale Securities Services successfully completed the experiment on the use of central bank digital currency (CBDC) for interbank settlement purposes.
The consortium formed around LiquidShare covered 2 use cases: delivery versus payment for both listed and non-listed securities on blockchain.
The tests span across the entire life cycle of securities, from issuance and registration in the blockchain to secondary market operations’ settlement. It allowed to validate all processes throughout the day with, among others, the functions of creation, control and destruction of CBDC tokens vested to the Banque de France.
All operations were carried out in strict line with the expected deadlines and scenarios.
As a whole, 15 entities and more than 45 participants, representing the entire ecosystem: investors, Euronext as marketplace, Euroclear France as Central Securities Depository, brokers, custodians (retail and institutional clients), interacted during two days and were able to validate the benefits offered by the blockchain (access to the same immutable source of information, real-time information sharing, modelization of business logic thanks to smart contracts…).
The success of the experiment also best prepares the development of post-market solutions for digital assets, securities or cash.
According to Jean-Marc Eyssautier, CEO of LiquidShare “We are delighted to have been able to demonstrate with the Banque de France and all our partners our ability to appropriate new technologies and to have all market infrastructures work together. This is a new demonstration of the Place de Paris players' capacity to mobilize and cooperate for an innovative project in close collaboration with the authorities and infrastructures.”