DLT-Based Wholesale CBDC Experiments (10/23/2021)

Central Bank DLT-Based Wholesale CBDC Experiments (October 23, 2021)

Central Bank

Project

Platform/Vendor Partner(s)

Reserve Bank of Australia (RBA)

Syndicated loan funding, settling and repaying

Ethereum

Securities delivery-versus-payment (DVP) settlement

?

Bank of Canada

Project Jasper Phase 1

Ethereum

Project Jasper Phase 2

R3 Corda

Project Jasper Phase 3

R3 Corda

Project Jasper-Ubin

R3 Corda & Quorum

Banque de France (BdF)

Securities settlement, cross border payments

Multiple platforms

European Central Bank (ECB) & Bank of Japan (BoJ)

Project Stella Phase 1

Hyperledger Fabric

Project Stella Phase 2

R3 Corda, Elements, Hyperledger Fabric

Project Stella Phase 3

Hyperledger Fabric

Hong Kong Monetary Authority (HKMA) & Bank of Thailand (BOT)

Project Inthanon-LionRock

R3 Corda

Project Inthanon-LionRock Phase 2

ConsenSys

Saudi Arabian Monetary Authority (SAMA) and the United Arab Emirates Central Bank (CBUAE)

Project Aber

Hyperledger Fabric

Monetary Authority of Singapore (MAS)

Project Ubin Phase 1

R3 Corda

Project Ubin Phase 2

Hyperledger Fabric & Quorum

South Africa Reserve Bank (SARB)

Project Khokha

Quorum

Project Khokha 2

Accenture

Swiss National Bank (SNB)

Project Helvetia

R3 Corda

Bank of Thailand

Project Inthanon Phase 1

R3 Corda

Project Inthanon Phase 2

R3 Corda

Bank for International Settlements Innovation Hub (BISIH) and:

SNB and BdF

Project Jura

R3 Corda?

MAS

Project Nexus

?

RBA, Bank Negara Malaysia (BNM), MAS, and SARB

Project Dunbar

?

HKMA, BOT; the People’s Bank of China (PBOC), and CBUAE

Multiple CBDC (mCBDC) Bridge

ConsenSys

References:

Reserve Bank of Australia. 2020. “Reserve Bank partners with Commonwealth Bank, National Australia Bank, Perpetual and ConsenSys Software on Wholesale CBDC Research Project.”

—-. 2021. “Inquiry into Australia as a Technology and Financial Centre – Submission.”

Bank of Canada. 2017. “Project Jasper: A Canadian Experiment with Distributed Ledger Technology for Domestic Interbank Payments Settlement.”

—-. 2017. “Project Jasper: A Canadian Experiment with Distributed Ledger Technology for Domestic Interbank Payments Settlement.”

—-. 2018. “Jasper Phase III: Securities Settlement Using Distributed Ledger Technology.”

Bank of Canada and Monetary Authority of Singapore. 2019. “Jasper-Ubin Design Paper : Enabling Cross-Border High Value Transfer Using Distributed Ledger Technologies.”

Banque de France. 2020. “Central Bank Digital Currency Experiments with the Banque de France: Call for Applications.”

—. 2020. “Use of a central bank digital currency to settle a digital financial securities issue carried out by Société Générale Forge.”

—. 2021. “Successful experiment with IZNES on the use of central bank digital money for interbank settlement purposes.”

—. 2021. “Experiment on the use of CBDC for settling digital bonds issued by the EIB on a blockchain.”

—. 2021. “Banque de France, Swiss National Bank and BIS Innovation Hub collaborate for experiment in cross-border wholesale CBDC.”

—. 2021. “Banque de France conducted with a group of participants formed around SEBA Bank a central bank digital currency experiment for settlement of listed securities.”

—. 2021. “Banque de France conducted a successful experiment on the use of CBDC to settle the issuance of a French Government Bond by Agence France Trésor with a consortium of actors driven by Euroclear.”

—. 2021. “The Banque de France and the Monetary Authority of Singapore completed a wholesale cross-border payment and settlement experiment using CBDC.”

—. 2021. “Banque de France and Banque Centrale de Tunisie, successfully conducts an experiment on the use of CBDC with a consortium driven by Prosperous.”

ECB-BoJ. 2017. "Payment Systems: Liquidity Saving Mechanisms in a Distributed Ledger Environment."

—. 2018. “Securities Settlement Systems: Delivery-versus-Payment in a Distributed Ledger Environment.”

—. 2019. “Synchronized Cross-Border Payment.”

HKMA-BoT. 2020. “Project Inthanon-LionRock: Leveraging Distributed Ledger Technology to Increase Efficiency in Cross-Border Payments.”

—. 2020. “Project Inthanon-LionRock has entered the second phase to explore business use cases in cross-border trade settlement and capital market transactions.”

—. 2021. The HKMA, BOT, CBUAE and People’s Bank of China joined the second phase of Project Inthanon-LionRock.

Saudi Arabian Monetary Authority. 2019. “A Statement on Launching “Aber” Project, the Common Digital Currency between Saudi Arabian Monetary Authority (SAMA) and United Arab Emirates Central Bank (CBUAE).”

—. 2020. “The SAMA and CBUAE issue report on results of joint digital currency project Aber.

Monetary Authority of Singapore. 2017. Project Ubin: SGD on Distributed Ledger.

South African Reserve Bank. 2018. “Project Khokha: Exploring the Use of Distributed Ledger Technology for Interbank Payments Settlement in South Africa.”

—. 2021. “Project Khokha 2 launched to explore the policy and regulatory implications of tokenization in financial markets.”

Swiss National Bank. 2020. “Project Helvetia: Settling tokenized assets in central bank money.”

Bank of Thailand. 2019. “Project Inthanon: An application of Distributed Ledger Technology for a Decentralised Real Time Gross Settlement system using Wholesale Central Bank Digital Currency.”

Bank of Thailand. 2019. “Project Inthanon: Enhancing Bond Lifecycle Functionalities & Programmable Compliance Using Distributed Ledger Technology.”

BISIH. 2021. “BISIH, SNB and BdF collaborate for experiment in cross-border wCBDC.”

—-. 2021. “BISIH and MAS proposal for enhancing global real-time retail payments network connectivity.”

—-. 2021. “BISIH, RBA, BNM, MAS and SARB will test CBDCs for international settlements.”

—-. 2021. “Inthanon-LionRock to mBridge: Building a multi CBDC platform for international payments.”