HSBC and IBM announced the test of an advanced token and digital wallet settlement capability encompassing direct transactions between two central bank digital currencies (CBDC) in a hybrid cloud environment.
Several previous initiatives have individually demonstrated support for CDBCs, securities and/or foreign exchange. The experiment, which was designed and implemented within a four-month period, executed across ledgers in support of such a complex multi-asset transactional scenario.
The experiment tested an end-to-end transactional lifecycle covering CBDCs (minting and allocation), eBonds (Delivery Versus Payment (DVP) across primary issuance and secondary trading and coupon payments), and foreign exchange (pricing and Payment Versus Payment (PVP) settlement).
It was conducted in a hybrid cloud environment incorporating public and private clouds and on premise data sources. Distributed ledgers based on IBM’s Hyperledger Fabric and R3’s Corda were integrated using IBM Research’s Weaver interoperability tool.
The project was initiated by Banque de France – a leader among central banks, as part of a program to explore the potential of the digital Euro.