According to Odaily, AXA Investment Managers (AXA IM) has successfully executed two transactions using the Bank of France's exploratory cash token, a form of wholesale Central Bank Digital Currency (CBDC). This initiative is part of the European Central Bank's (ECB) wholesale Distributed Ledger Technology (DLT) settlement trial, which concluded at the end of November.
The trial follows Slovenia's issuance of digital sovereign bonds through the BNP Paribas Neobonds tokenization platform. AXA IM participated as one of the investors, committing 3 million euros. The transactions were settled on a T+1 basis, indicating a next-day settlement process. This development marks a significant step in exploring the potential of CBDCs in enhancing the efficiency and security of financial transactions within the European financial system.