European Central Bank Announcement:
"ECB announces 48 participants in wholesale DLT trials, including HKMA"
The Eurosystem is currently carrying out wholesale Digital Ledger Technology (DLT) settlement trials with the focus on Central Bank money.
The focus of this trial is on the interfacing and use of Central Bank money (wCBDC) as money on the QFS.
The trials involve real payments with volume limits and simulations. The hope is to find interoperability on the payment side of the Central Bank's ability to move money through the new digital banking system.
Domestic payments, securities settlements, and payment versus payment transactions which is where Hong Kong comes in to play.
Payment versus payment transactions is a new term we have not discussed so far. PvP is a settlement mechanism that ensures final transfer of a payment in one currency occurs when and if the final transfer of a payment in another currency completes its transaction.
Here, we are witnessing the interfacing of Central Bank Digital Ledger Technology being Incorporated unto the new QFS.
To be clear, this is not a pilot program where the simulation of money is processed. This is a trial. That being said, a trial utilizes actual money to process through the system.
© Goldilocks
https://www.ledgerinsights.com/ecb-announces-48-participants-in-wholesale-dlt-trials-including-hkma/
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