CDC issues €100m digital bond settled with pilot wCBDC (Ledger Insights)
Caisse des Dépôts et Consignations (CDC) issued a €100 million digital bond settled using the Banque de France’s DL3S distributed ledger technology (DLT) platform using its pilot wholesale central bank digital currency (CBDC). The transaction formed part of the European Central Bank’s wholesale distributed ledger technology (DLT) settlement trials. The Banque de France avoids using the term wholesale CBDC, instead referring to it as a tokenized representation of central bank money. For the CDC issuance, it required synchronizing the issuance of the digitally native note (DNN) on Euroclear’s D-FMI platform with the settlement on the central bank’s DL3S. [Read more at Ledger Insights]
Use of DLT and tokenization in financial markets (AFME)
The Association for Financial Markets in Europe (AFME) published a response to a call for submissions from the European Commission (EC) Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) on any issues and opportunities relating to the deployment of DLT based infrastructure and services in the European Union (EU) that may merit the EC’s attention. AFME’s overarching view is that a transformative potential of DLT is that can enable companies and individuals to access a shared, peer-validated database as a single-source-of-truth, without the need to centralize data and transaction processing with a single actor. This increases accessibility by participants, data security and immutability, and data transparency in the real economy. Innovation in finance plays a key role in this vision, which will only begin in earnest with the updating of capital markets infrastructure. [Download the response at the AFME]
JPMorgan renames Onyx blockchain platform to Kinexys (CoinDesk)
JPMorgan (JPM) rebranded its blockchain platform, formerly Onyx, as Kinexys, and its JPM Coin System has been renamed “Kinexys Digital Payments”. The bank also said it plans to introduce on-chain foreign exchange capabilities to the platform as early as the first quarter of 2025, paving the way for the “automation of 24/7, near real-time multicurrency clearing and settlement.” The service will first be available for the U.S. dollar and euro with plans to expand to other currencies. [Read more at JPM]
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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.
