During July several institutions conducted experiments as part of the Eurosystem wholesale DLT settlement trials using central bank money. One test involved BayernLB issuing a digital registered bond to test the use of DLT for ownership assignment and settlement. Stadtsparkasse München was the buyer and made the payment using the Deutsche Bundesbank Trigger solution.
The Trigger solution is one of three settlement avenues being tested as part of the ECB DLT settlement trials, which now includes over 60 institutions. It involves making the SWIAT permissioned blockchain which hosts the digital bond, inter-operate with the Trigger Chain, a Bundesbank blockchain. The Trigger Chain initiates a payment in central bank money on the TARGET 2 real time gross settlement system.
“The digitization of securities transactions based on DLT not only enables us to process transactions more quickly and efficiently, but also to increase security and transparency,” said Stefan Hattenkofer, member of the board of Stadtsparkasse München.
NTT Data was the technical service provider and is a partner and node operator on the SWIAT blockchain. Helaba was the payment processor.
Below are some of the trials conducted during July:
| Institutions | Trial type | DLT Platform | Settlement |
| BNP Paribas | Slovenia digital bond issuance | BNP Paribas Neobonds | France’s wholesale CBDC |
| LBBW’s Berlin Hyp | Digital mortgage bond | SWIAT | Germany’s Trigger solution |
| Cboe Clear Europe, ABN Amro Clearing | Margin calls | Unknown | France’s wholesale CBDC |
| BayernLB, Stadtsparkasse München | Tokenized bond assignment, settlement | SWIAT | Germany’s Trigger solution |
| CDP, Intesa Sanpaolo | Digital bond issuance | Polygon blockchain | Italy’s TIPS Hash Link |
| DekaBank, Bankhaus Metzler | Bearer ‘cryptobond’ issuance | SWIAT | Germany’s Trigger solution |
| Clearstream , DekaBank, DZ Bank | Digital bond issuance | Clearstream’s D7 | Germany’s Trigger solution |
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