Coinspeaker
ECB Set to Launch CBDC Market Settlement Trials by 2024
The European Central Bank will begin trials on market transaction settlements using distributed ledger technology (DLT) via a central bank digital currency (CBDC). The ECB’s readiness to begin the CBDC trials and experimentation follows the first meeting of the New Technologies for Wholesale Settlement Contact Group (NTW-CG).
The minutes of the meeting explored transaction settlements between financial institutions in addition to the development of a CBDC. The ECB’s trials will begin in 2024 and likely cover basic transactions and settlements as they will be “limited in capacity and time”.
The ECB and the Digital Euro CBDC
Last month, the ECB finalized a digital euro prototype and published a report on its findings. Although this prototype is a result of deep research, the apex bank has yet to decide on CBDC issuance.
The ECB’s report indicated that it researched the use of DLT and smart contracts as a fra
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