Andrea M Maechler’s Post

🇱🇺 The European Investment Bank (EIB), HSBC & Banque de France jointly executed a €100m #digitalbond issuance, settled with wholesale central bank digital currency. #Luxembourg #wCBDC #digitalcurrency Emanuele Vignoli, John O'Neill, Emmanuelle Assouan, Cyril Rousseau. https://lnkd.in/eX63Uc7Q

🚀 21X Achieves Major Milestone with CBDC Trials in Partnership with Banque de France 🌐 We’re thrilled to share our success in the European Central Bank’s Eurosystem exploratory work on wholesale #CBDC settlement. Here are the highlights: 🔗 Seamless Delivery vs. Payment (DvP): 21X successfully conducted atomic DvP for tokenized securities on the Banque de France's DL3S platform in just 53 seconds. 🤝 Collaborative Innovation: Partnering with Banque de France, this project showcased the transformative potential of DLTs for secure cross-border central bank money settlement. 🌍 Driving Digital Finance: 21X is the first EU-regulated DLT exchange, paving the way for tokenized securities trading and settlement with wholesale CBDCs and e-money tokens (EMT). For the near future it will be with EMT only but 21X has proven its flexibility and adaptability for various DvP approaches. 📅 Looking Ahead: With our platform launching soon in 2025, we’re excited to shape the future of capital markets. The journey toward smarter, more efficient financial systems continues. 💡 #web3 #digitalassets

#SUERFpolicybrief "What will tomorrow’s post-trading industry look like and what forms of cooperation will it deploy?" by Denis Beau (First Deputy Governor, Banque de France) This policy brief puts at the forefront the evolving role of post-trade infrastructures in Europe amidst rapid technological advancements and increasing global financial competition. It highlights the need for Europe to leverage its #financialinfrastructure to support key economic transitions, particularly in the areas of digitalisation and climate finance. The brief outlines the role of the Eurosystem in adapting its central bank money and associated infrastructures services, especially through the provision in the short run of a wholesale Central Bank Digital Currency (#CBDC) to support #payment processes for tokenised assets. The creation of a #EuropeanUnifiedLedger is proposed as a long-term solution to foster European financial sovereignty and market integration. It also stresses the importance of cooperation between public and private sectors, and the need for timely action to ensure a successful transition to the post trading landscape that contributes to the sovereignty and competitiveness of our #financialsystem. 📄https://lnkd.in/dwV8C-xy

Latest news on the ECB trials! Together with ABN AMRO Bank N.V. (issuer), Rabobank (investor) and ABN AMRO Clearing Bank (investor), we processed a new commercial paper using digital central bank money! A first for us: the cash leg was settled via Banque de France’s Full-DLT interoperability solution DL3S using the Exploratory Cash Tokens (ECTs). A first for Europe: the commercial paper had an XS ISIN under Dutch law, meaning this was the first Eurobond settled in digital central bank money. This is Clearstream‘s 5th use case at the ECB trials, exploring digital Central Bank Money payment with our #D7 #DLT. Varying the set-up of transactions, participants, central bank infrastructures and other parameters is essential to us to gain as much experience as possible to support the development of a future digital European securities issuance and settlement landscape. Thanks to all partners involved – it’s great to have such innovative spirit on that journey! Clearstream - leader in digital securities services!

European Investment Bank Launches €100m Digital Bond Using Central Bank Digital Currency In a groundbreaking move towards the future of finance, the European Investment Bank (EIB), in collaboration with HSBC the Banque centrale du Luxembourg (BCL) , and Banque de France, has successfully completed its first blockchain-based digital bond issuance, amounting to €100 million. This significant milestone was announced by HSBC on Wednesday, marking a key development under the Eurosystem’s exploratory initiative for wholesale central bank money settlement. The digital bond was issued under Luxembourg law and settled utilizing wholesale central bank digital currency (wCBDC) through the Banque de France’s innovative distributed ledger technology platform, known as DL3S. The transaction demonstrates remarkable interoperability between HSBC’s Orion digital assets platform and the DL3S system, offering a seamless integration of traditional finance with cutting-edge blockchain technology. The bond issuance is a testament to the potential of digital bonds and the integration of central bank digital currencies in enhancing market efficiency, and opens doors for global investors to transact in euros while ensuring that the EIB receives the proceeds in wCBDC via Banque de France’s exploratory cash tokens. Investors will have access to the digital bond in both primary and secondary markets, with custody accounts managed by leading financial institutions including BNP Paribas, HSBC, and J.P. Morgan. HSBC took the lead as the bookrunner for this historic transaction, underscoring its commitment to pioneering developments in the digital finance space. As the financial landscape continues to evolve, this successful digital bond issuance represents a significant step towards the adoption of innovative financial instruments and the integration of central bank digital currencies in mainstream finance. The collaboration among major financial institutions and central banks heralds a new era of transparency and efficiency in capital markets, paving the way for future advancements in digital finance. #bankingindustry #fintech #digitalcurrencies #finances #markets #cbdc #digitalfinance #money #investing

Following hot on the heels of our license award announcement last week, check out the details of 21X's participation and success in the European Central Bank’s (ECB’s) experiments, in partnership with the Banque de France, as part of the ECB’s Eurosystem exploratory work on new technologies for wholesale central bank money (#CeBM) settlement. The project focuses on leveraging distributed ledger technologies (#DLTs) to advance the cross-border settlement of funds between banks. Our thanks to the Banque de France for the collaborative success of the project. As Claudine Hurman, Director of the Innovation and Financial Market Infrastructures Directorate at the Banque de France, emphasized: “Our cooperation with 21X underscores the richness and diversity of participants contributing to the Eurosystem’s exploratory work on wholesale #CBDC settlement using DLTs." Check out the full press release here: https://lnkd.in/eNnHyuTu #Tokenization #RWA #Capitalmarkets #DeFi #fintech #digitalassets #regulation

🎥 🎥 🎥 Navigating Towards the Future Monetary System: Insights from the Swiss National Bank (SNB) Conference this week in Zurich, Switzerland: 🎥 🎥 🎥 🎬 Introduction: 🎬 In his recent speech at the SNB conference, Thomas J. Jordan, Chairman of the Governing Board at the Swiss National Bank (SNB), addressed the evolving landscape of the monetary system amidst rapid technological advancements. The speech delves into key insights from SNB's pilot project, 🥁 Helvetia III 🥁 , and highlights the crucial role of central bank money in the emerging tokenized financial ecosystem. 🎬 The Role of Central Bank Money: 🎬 T. Jordan emphasizes the pivotal role of central bank money as the anchor of the monetary system, elucidating its distinction from commercial bank money. He underscores the importance of maintaining trust and stability in central bank money, irrespective of technological innovations. 🎬 Settlement of Tokenized Assets and SNB's Pilot: 🎬 The speech discusses the trend of tokenization of financial assets and SNB's exploration of wholesale Central Bank Digital Currency (#CBDC) as a means of settling tokenized assets. Jordan provides insights from the Helvetia III pilot project, highlighting its potential to enhance efficiency and safety in settlement processes. 🎬 Key Questions and Considerations: 🎬 T. Jordan poses critical questions regarding the adoption of wholesale CBDC, including the timing of its introduction, alternative solutions, design considerations, and governance frameworks. He underscores the importance of thorough exploration before making decisions regarding its implementation. 🎬 Instant Payments and Retail CBDC:🎬 The speech also touches upon the enhancement of retail payments through instant payment systems, emphasizing SNB's focus on strengthening the role of central bank money in retail transactions. Jordan discusses the current stance on retail CBDC, highlighting potential risks and benefits. 🎬 Conclusion: 🎬 In conclusion, T. Jordan reiterates the imperative for central bank money to adapt to technological advancements while maintaining its core functions. He expresses optimism for further exploration and discussion on shaping the monetary system of the future. The speech provides valuable insights into SNB's perspective on navigating the evolving monetary landscape, underscoring the importance of innovation, stability, and adaptability in ensuring the resilience of the financial system. Thomas Moser Bank for International Settlements – BIS SIX @Innovation Hub Full speech here: https://lnkd.in/gCZJEahR #web3 #digitalassets

In the recent times ,we come across "The Project Agora" in the Finance and cross border areas , Recently it is in the news that, The BIS and the IIF are inviting private sector banks to participate in Project Agora, to explore how tokenization can enhance wholesale cross-border payments. The Project Agora ' will test a multi-currency unified ledger for cross-border payments to improve the existing financial market infrastructure and the Agora will use both tokenized central bank digital currency and commercial bank money. Seven major central banks support it, five of which are reserve currencies: Banque de France (representing the Eurosystem), Bank of Japan, Bank of Korea, Bank of Mexico, Swiss National Bank, Bank of England, and the Federal Reserve Bank of New York. This major public-private partnership will seek to overcome several structural inefficiencies in how payments happen today, especially across borders, which add a layer of challenges- different legal, regulatory and technical requirements, operating hours and time zones. and the increased complexity of carrying out financial integrity controls example against money laundering and customer verification and so on. #Legalresearch #theprojectagora #recentnewsofagora.