The European Central Bank (ECB) is broadening its distributed ledger technology (DLT) test, initiated in April, to include new use cases and more participants. The second phase will see 48 financial institutions, including divisions of major global banks such as HSBC, J.P. Morgan, and BNP Paribas, testing wholesale domestic payments within the euro area, securities-related use cases, and foreign exchange payment-versus-payment transactions among central banks. The results could have implications for central bank digital currency (CBDC) applications. The Bank of England, along with central banks from several other countries, will also participate in the project.