UBS and Deutsche Bank recently conducted a trial using the European Central Bank’s wholesale DLT settlement to simulate tokenized deposit payments between banks. The trial used the Bundesbank’s Trigger solution, which allows blockchain-based systems to connect to the Trigger Chain for central bank currency payments on the Target2 payment system.
During the trial, tokens were burned on the sending blockchain and minted at the receiving bank. Two trials were conducted, one involving time-sensitive euro payments and the other simulating GBP and CHF transactions between Deutsche Bank’s London branch and UBS Group AG in Switzerland, with these transactions settled in Euros.
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<p>The post UBS and Deutsche Bank Simulate Tokenized Deposit Payments first appeared on CoinBuzzFeed.</p>
