HSBC and IBM have successfully tested an advanced token and digital wallet settlement that included direct transactions between two central bank digital currencies, using the cloud
Isabelle Delorme (pictured), deputy CEO of ESES CSDs Euroclear France, Euroclear Belgium and Euroclear Nederland comments: “We are extremely pleased to have worked on this pioneering project with our industry partners and the Banque de France"
Project Dunbar will develop prototypes for shared platforms supporting international settlement in central bank digital currencies. Testing will run with central banks in Australia, Malaysia, Singapore and South Africa
The new test demonstrated that DLT could be used to issue CBDC in connection with existing infrastructures such as T2S, where listed securities are delivered
Digital money in the UK considered to be systemic are those that have the potential to scale up and become widely used as a trusted form of sterling-based retail payments
New technologies, changing customer expectations, emerging players and evolving business models are driving tectonic shifts in the payments landscape, according to SWIFT and Accenture
The government and the Bank of England have not yet made a decision on whether to introduce a CBDC in the UK, but say they will engage widely with stakeholders on the benefits, risks and practicalities of doing so
According to SIB, with the emergence of Bitcoin and the recently proposed digital currencies, central banks have growing competition from actors offering their own digital alternative to physical cash
Citi and CACEIS acted as the participating commercial banks to purchase CDBC tokens from Banque de France. CACEIS also acted as the custodian of the Groupama funds