CoinVoice has learned from the latest report by Ledger Insights that UBS and Deutsche Bank have announced that as part of the European Central Bank's wholesale DLT settlement experiment, the two sides simulated tokenization deposit payments between banks.

The Trigger solution of the Central Bank of Germany (Bundesbank) enables blockchain-based systems to connect to the Trigger Chain, and then initiate payments in the Target2 payment system using Central Bank currency. As for tokenized deposits, the tokens are destroyed on-chain when sent and minted at the receiving bank.

Two experiments were conducted this time, one involving time-sensitive euro payments. The second simulated transactions between Deutsche Bank London Branch and UBS Group in British pounds and Swiss francs, which were settled in euros. [Original article link]