Stablecoin implementation experience

The Canton of Zurich has issued a second digital bond in the amount of CHF 100 million with a maturity of 10 years and a coupon of 1.415 per cent.

• The digital bond will be settled using the Swiss central bank's wholesale digital currency (wCBDC) denominated in Swiss francs. This is the first transaction that will use genuine wCBDC.
• The settlement and custody of the digital bond as well as the settlement of the wCBDC will take place on the SIX Digital Exchange (SDX) platform. SDX is a financial market infrastructure based on distributed ledger technology (DLT). The assets will be managed by Zürcher Kantonalbank (ZKB) together with Basier Kantonalbank and J.Safra Sarasin. The bonds will be held in SDX's digital centralised depository (CSD) and conventional SIS.
• The use of wCBDC and SDX infrastructure will enable more efficient, faster and safer settlement of digital securities than traditional methods.
• Tokenised bonds will be settled against wholesale CBDCs on a delivery versus payment basis.
• In the future, tokenised transactions between financial institutions could be settled in central bank money, which would eliminate counterparty risk and central bank money would continue to play a key role in maintaining the stability and efficiency of the financial system.

Stablecoin A$DC

The stablecoin "A$DC" from the Bank of Australia and New Zealand is created to facilitate internal treasury operations, demonstrate value transfer to clients, and acquire tokenized credits for carbon emissions on a public blockchain without permissions.

NAB's Stablecoin Tokens on Ethereum Mainnet

Issuer: National Australia Bank (NAB)
December 2022

These stablecoin tokens represent fully collateralized bank obligations and are used for cross-border interbank settlement.

The NAB smart contract ecosystem utilises innovative governance mechanisms, including systemic emergency response and multi-level access control. NAB's smart contract ecosystem is considered the leading edge for banking stablecoins.

Eden token

Issuer: Tel Aviv Stock Exchange
March 2023

The Eden project demonstrated the settlement of a tokenised government bond using tokenised shekels. This is one of the most advanced projects implemented by a systemically important financial market infrastructure, and represents cutting-edge developments in atomic settlement of financial instruments on a traditional exchange.

Mariana project from the Bank for International Settlements (BIS IH)

March 2023.

The Mariana Project explored the possibility of improving the efficiency, security and transparency of foreign exchange transactions and settlement through automated market makers, addressing some of the associated risks in foreign exchange markets. The project considered a scenario in which the central banks of France, Singapore and Switzerland would use different blockchains. For this reason, the project also implemented specialised interbank and international integration with a fully qualified management system, allowing central banks to have full control over their national central bank digital currencies in both domestic and foreign markets.

Digital currency project from the Brazilian central bank

In Brazil, the central bank's digital currency will coexist alongside partially collateralized digital obligations issued by banks and fully collateralized digital obligations issued by non-bank payment institutions. Compliance with customer identification rules means that obligations issued by a financial institution can only be held by its customers. 

Real Estate Tokenization Proposal by DigitalX and Bricklet

This proposal enables partial ownership equivalents in a tokenized fund and closes the financial gap in the housing market.

e-HKD Pilot Project by HSBC

The project aims to demonstrate the use of Hong Kong's retail digital currency for retail payments and loyalty programs on a university campus.

This offer allows you to partially hold the equivalent of a property in a tokenized fund and close the financial gap in the housing market.