TechFlow news, on November 21, UBS and Deutsche Bank announced they had simulated interbank tokenized deposit payments as part of the European Central Bank's wholesale DLT settlement trial.
The German Federal Bank's (Bundesbank) Trigger solution enables blockchain-based systems to connect to the Trigger Chain, thereby initiating payments in central bank money via the Target2 payment system. Regarding tokenized deposits, tokens are burned on the sending blockchain and minted at the receiving bank.
Two trials were conducted: one involved time-sensitive euro payments. The second simulated transactions in British pounds and Swiss francs between Deutsche Bank’s London branch and UBS Group in Switzerland, settled in euros.
Add to Favorites
Share to Social Media
