Tokeny Solutions Teams up With Banks To Explore the Potential of Digital Interbank Currency

BNP Paribas CIB, CA CIB, Caisse des Dépôts, Tokeny Solutions and The Blockchain XDEV today announced the launch of a project by combining their expertise to explore the potential use and implications of a creation of an interbank digital currency for use on Distributed Ledger Technology (DLT) platforms.

The project will explore how financial transactions involving digital assets can be settled on platforms initially using Ethereum and Tezos technologies. Participants will consider particularly the implications of ‘atomic’ delivery-versus-payment settlement of tokens or regulated securities exchanged on a blockchain – where security tokens and the cash tokens exist on the same ledger, using the ERC3643 standard.

The stakeholders will consider the operational impacts of this technology including the implementation of several experimentations to validate the technological interoperability of such a tool in a multi-technology context, both on public or private blockchains and the regulatory impacts on a daily situation of multi-currency and multi-actor transactions in financial markets.

Participants in this project are committed to comply with the applicable regulations and contribute to the on-going EU exploratory work in the area of digitalization of financial asset.

Moreover, the aim of the partners is to federate around this project the largest possible number of French, European and international players wishing to participate in the construction of an infrastructure and its components.

The project will be completed in 2021.

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