On November 28, the German central bank, Deutsche Bundesbank, and the German stock exchange, Deutsche Börse, jointly announced in a press release that they have been working on a prototype for a new blockchain-based securities settlement system.
The new system is intended to deliver the necessary technological functionalities for a delivery-versus-payment securities settlement system for centrally-issued digital coins, as well as the transfer of cryptocurrencies and crypto assets. Furthermore, the new system is also intended to settle straightforward corporate actions, such as coupon payments and redemption of payments for fixed income securities.
The German central bank and the German securities exchange plan to develop the prototype further in the coming months to oversee the scalability and technical functioning of a blockchain-based settlement system.
The prototype currently has the following features; blockchain-powered payments and securities transfers, a flexible and