

Mark Williamson, Managing Director GFX eRisk, Partnerships & Propositions at HSBC, said: "We were pleased to be selected by Banque de France to conduct this exciting experiment. HSBC, one of the world's largest foreign exchange banks, and IBM, a leading provider of consulting services and technology to the financial services industry, were chosen from a diverse field of highly-regarded financial and technology applicants. The project was initiated by Banque de France - a leader among central banks in its breadth of CDBC experimentation - as part of a multi-pronged program to explore the potential of the digital Euro.

Distributed ledgers based on IBM's Hyperledger Fabric and R3's Corda were integrated using IBM Research's Weaver interoperability tool. It was conducted in a hybrid cloud environment incorporating public and private clouds and on premise data sources. The experiment successfully tested an end-to-end transactional lifecycle covering CBDCs (minting and allocation), eBonds (Delivery Versus Payment (DVP) across primary issuance and secondary trading and coupon payments), and foreign exchange (pricing and Payment Versus Payment (PVP) settlement).

The experiment, which was designed and implemented within a four-month period, successfully executed across ledgers in support of such a complex multi-asset transactional scenario. Several previous initiatives have individually demonstrated support for CDBCs, securities and/or foreign exchange. 16, 2021 / PRNewswire/ - HSBC and IBM (NYSE: IBM) today announced the successful test of an advanced token and digital wallet settlement capability encompassing direct transactions between two central bank digital currencies (CBDC) in a hybrid cloud environment.
