Project Aperta: enabling cross-border data portability through open finance interoperability (BIS)
The Bank for International Settlements (BIS) launched Project Aperta (Latin for “open”) to explore how to reduce frictions and costs in global finance by enabling seamless cross-border data portability. The project aims to connect the domestic open finance infrastructures of different jurisdictions. The initial exploratory use case is in trade finance for small and medium-sized enterprises (SMEs). Collaborators include the Central Bank of the United Arab Emirates, Banco Central do Brasil, U.K. Financial Conduct Authority , Hong Kong Monetary Authority, and the Global Legal Entity Identifier Foundation. [Read more at the BIS]
ANZ explores stablecoin to track pension payments (Ledger Insights)
The Health Employees Superannuation Trust Australia (HESTA) and ANZ are examining whether the bank’s A$DC stablecoin could allow HESTA to streamline pension payment reconciliation. Currently, HESAT member firms contributing to staff pensions pay the money across and separately send data about what it relates to. ANZ’s idea is for the data to accompany the stablecoin payment as part of a smart contract. This could eliminate the entire reconciliation process and employees would be able to see their contributions in real time. [Read more at Ledger Insights]
ECB exploratory work on new technologies for wholesale central bank money settlement
Last week I reported on a couple of trials that are part of the European Central Bank (ECB) exploratory work on new technologies for wholesale central bank money settlement. It has since come to my attention that there are a couple of places where all of the trials associated with two of the three solutions are tracked. The Deutsche Börse trials of the Banque de France led wholesale central bank digital currency (CBDC) based solutions are listed on its website here. And trials of the Deutsche Bundesbank (BuBa) “trigger solution is tracked on BuBa’s website here. (The trigger solution links distributed ledger technology (DLT) securities settlement platforms operated by the market with the traditional Eurosystem payment system (TARGET) to achieve atomic settlement.
Upcoming Speaking Engagements:
- Digital Euro Conference 2025, Frankfurt, March 27, 2025. The DEC25 conference will explore the future of money with a focus on CBDCs, stablecoins, tokenized deposits, and the intersection of AI and digital ID. When you register, get 20% off the regular ticket price by using the Kiffmeister20 code! [Find out more and register here]
And just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So (only) if you work at a central bank, ministry of finance or international financial institution (e.g., the BIS, IMF, OECD, World Bank) and who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at john@kiffmeister.com.
