Germany Successfully Issues €50 Million Digital Commercial Paper
Publication Time:2024-09-11 19:31:08
The Ministry of Finance of Saxony-Anhalt in Germany utilized the Clearstream D7 platform provided by Deutsche Börse to issue €50 million worth of commercial paper. This issuance not only represents Germany's proactive efforts in financial innovation but also an integral part of the European Central Bank's wholesale DLT settlement pilot. As reported by Jens Hachmeister of Clearstream, this transaction used the Bundesbank's triggered payment solution for settlement, aiming at interoperability with blockchain technology to support DLT payments. The triggered solution integrates with the TARGET2 real-time gross settlement system for efficient and transparent payment processes. Natwest acted as the dealer for this issuance of commercial paper, while DekaBank Deutsche Girozentrale participated as a key investor. This initiative highlights Germany's leading role in driving financial technology development, particularly in blockchain applications.
Germany
European Central Bank
Clearstream D7
Digital Commercial Paper
Deutsche Börse
DLT Settlement
Triggered Payment Solutions