LiquidShare completes successful CBDC test
08 July 2021 France
Image: Murrstock/adobe.stock.com
LiquidShare and Banque de France have successfully completed an experimental use of central bank digital currency (CBDC) for interbank settlement purposes.
The experiment was conducted by a consortium of participants, which tested delivery versus payment for both listed and non-listed securities on blockchain across the entire lifecycle of securities, spanning issuance and registration to secondary market operations’ settlement.
Using blockchain technology, all processes were validated, including the functions of creation, control and destruction of CBDC tokens belonging to Banque de France.
The consortium, made up of 15 entities and over 45 individuals, represented a wide variety of participants across the ecosystem, with Euronext acting as the marketplace and Euroclear France as central securities depository.
Communication between the entities demonstrated the advantages of blockchain technology, such as real-time information sharing and modelisation of business logic through smart contracts.
The successful outcome is hoped to be indicative of future achievements in the development of post-market solutions for digital assets, securities and cash.
Jean-Marc Eyssautier, CEO of LiquidShare, comments: “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 mobilise and cooperate for an innovative project in close collaboration with the authorities and infrastructures.”
The experiment was conducted by a consortium also made up of 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 Asset Management, OFI Asset Management and Société Générale Securities Services.
The experiment was conducted by a consortium of participants, which tested delivery versus payment for both listed and non-listed securities on blockchain across the entire lifecycle of securities, spanning issuance and registration to secondary market operations’ settlement.
Using blockchain technology, all processes were validated, including the functions of creation, control and destruction of CBDC tokens belonging to Banque de France.
The consortium, made up of 15 entities and over 45 individuals, represented a wide variety of participants across the ecosystem, with Euronext acting as the marketplace and Euroclear France as central securities depository.
Communication between the entities demonstrated the advantages of blockchain technology, such as real-time information sharing and modelisation of business logic through smart contracts.
The successful outcome is hoped to be indicative of future achievements in the development of post-market solutions for digital assets, securities and cash.
Jean-Marc Eyssautier, CEO of LiquidShare, comments: “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 mobilise and cooperate for an innovative project in close collaboration with the authorities and infrastructures.”
The experiment was conducted by a consortium also made up of 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 Asset Management, OFI Asset Management and Société Générale Securities Services.
← Previous technology article
SmartStream strengthens TLM Collateral Management with Acadia partnership
SmartStream strengthens TLM Collateral Management with Acadia partnership
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
.jpg)