The Eurosystem concluded a series of tests employing distributed ledger technology (DLT) for wholesale settlement in central bank money. Between May and November 2024, the Eurosystem processed over 200 transactions and a total value of €1.59 billion ($1.7bn).
In total, 64 participants comprising central banks, financial market participants and DLT operators completed over 40 trials and experiments. Trials included actual settlement in central bank money, while experiments were tests with mock settlement.
The Eurosystem will draw lessons from the exploratory work and further analyze the opportunities and challenges of DLT for financial markets. This will include considering how to facilitate the provision of central bank money settlement for wholesale transactions of assets on DLT platforms.