New UBS, Deutsche Bank DLT Settlement Trial Simulates Tokenized Deposit Payments.

On November 21, UBS and Deutsche Bank conducted a wholesale DLT settlement trial as part of the European Central Bank’s program. In this trial, the two banks simulated tokenized deposit payments between their systems, using the Bundesbank’s Trigger solution to link blockchain-based systems to the Trigger Chain for central bank currency payments on the Target2 payment system.

The trial involved two tests: one for time-sensitive euro payments, and another for GBP and CHF transactions between Deutsche Bank’s London branch and UBS Group AG in Switzerland, both settled in Euros.

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