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Wholesale CBDC: The heart of a tokenized financial ecosystem

Real Time Gross Settlement (RTGS), or comparable Large Value Payment systems operated by central banks offer commercial banks (and possibly other systemically important entities) the ability to settle with central bank money in the form of reserves. Wholesale CBDC, as a central bank settlement asset, would enable reserves to be tokenized, unlocking efficiencies in interbank settlements also involving tokenized securities and tokenized deposits, to name a few.

Ongoing experiments with wholesale CBDC across several jurisdictions and over several years have confirmed efficiency gains from the use of wCBDC in settlements encompassing interbank payments, settling tokenized securities, either for wholesale or monetary policy transactions, and cross border transactions. Current explorations are spanning other forms of settlements involving multi-chain tokenized deposits (colored tokenized deposits) and tokenized Real World Assets (RWA) with a focus on validating atomic settlements with predefined conditions such as in Delivery versus Payment (DvP) and Payment versus Payment (PvP) utilizing Hash Time Lock Contracts (HTLC) or similar arrangements.

Additionally, wholesale CBDC could facilitate the technical architectural design and the establishment of the most preferred distribution model for retail CBDC. It could also enable a more resilient stablecoin ecosystem by offering the option for a wCBDC-backed stablecoin. Overall, wCBDC as a tokenized form of central bank settlement asset would be instrumental in facilitating settlements involving tokenized forms of monies and assets.

Our offering:

  • Comprehensive and holistic policy and technical consultancy services for central banks, commercial banks, corporates and private entities based on our proven experiences in delivering CBDC and related tokenized money technologies.
  • Integrated interface to showcase the various wholesale CBDC settlement use cases
  • Proof-of-concept and pilot implementations while facilitating integration with existing payment systems to enable seamless interoperability.

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