Euroclear is building a bond settlement platform based on DLT | coindesk JAPAN | Coindesk Japan

Euroclear, a traditional international securities clearing house, could complete a new platform for securities based on distributed ledger technology (DLT) as early as this year, said one of its staff members. said on March 30.

The initiative builds on Euroclear’s recent efforts with the French central bank to use blockchain for bond trading and central bank digital currencies (CBDC) for payments, and the idea is just an experiment. to the transfer of security tokens.

“Euroclear is building and perfecting a minimally viable DLT platform for digital bond issuance and settlement,” said Bart Garré, general counsel for Euroclear. , told CoinDesk at an event in Brussels, Belgium.

Galle told CoinDesk that he could launch the platform as early as this year, although no firm timeline has been set. The new trading environment will be linked with the legacy bond market to ensure liquidity is not compromised, he added.

The project does not depend on changes brought about by the European Union’s DLT pilot regime, a deregulation of cryptographic securities trading that just came into effect last week, Galle said.

DLT, on the other hand, clashes with existing laws, such as what constitutes an account, a money transfer message, and the concept of property law, said Galle.

“How does the transfer of ownership work and does that require a change in law?” Mr. Galle asked, adding that taking collateral “is possible with very minor changes in the Financial Collateral Law.”

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: Euroclear Finalizing DLT Bond Settlement Platform, Staffer Says