<p>According to Foresight News, UBS and Deutsche Bank announced that as part of the European Central Bank's wholesale DLT settlement experiment, the two parties simulated tokenized deposit payments between banks. The Bundesbank's Trigger solution enables blockchain-based systems to link to the Trigger Chain, allowing payments to be initiated in central bank currency on the Target2 payment system. Regarding tokenized deposits, tokens are destroyed on the sending blockchain and minted at the receiving bank. Two experiments were conducted in total, one involving time-sensitive euro payments. The second simulated transactions in British pounds and Swiss francs between Deutsche Bank's London branch and Switzerland's UBS Group, with these transactions settled in euros.</p>

According to Foresight News, UBS and Deutsche Bank announced that as part of the European Central Bank's wholesale DLT settlement experiment, they simulated tokenized deposit payments between banks. The Bundesbank's Trigger solution allows blockchain-based systems to connect to the Trigger Chain, enabling payments to be initiated in central bank money on the Target2 payment system. In terms of tokenized deposits, tokens are destroyed on the sending blockchain and minted at the receiving bank. Two experiments were conducted in total: one involving time-sensitive euro payments, and the second simulating transactions in GBP and CHF between Deutsche Bank's London branch and UBS Group in Switzerland, which were settled in euros.

Deutsche Bank and UBS Utilize the German Central Bank's Trigger Solution for Settling Tokenized Deposit Payments