Eurosystem completes tests using DLT for central bank money settlement

4 December 2024

The Eurosystem has successfully 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.

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 full list of use cases tested is available on the ECB’s website.

The Eurosystem will draw lessons from the exploratory work and further analyse 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. In January 2025, participants involved in the exploratory work will be invited to discuss lessons learned from the trials and experiments. The outcome of the analysis will inform the Eurosystem’s decision on its next steps.