The European Central Bank is expanding its distributed ledger technology testing to include 48 financial institutions and more central banks.
The European Central Bank is expanding the distributed ledger technology test it initiated in April. This second phase of testing will examine new use cases with an influx of private financial institutions and three more central banks.
Forty-eight financial institutions will participate in the new phase. These include divisions of many of the world’s biggest banks, such as ABN AMRO, BNP Paribas, Bank of New York Mellon, HSBC, J.P. Morgan and Société Générale. Participants in both sets of tests wereThe new cadre will engage in tests of wholesale domestic payments within the euro area, a variety of securities-related use cases and foreign exchange payment-versus-payment transactions among central banks.
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