LiquidShare, the fintech co-founded by major financial institutions in 2017 to develop a European post-trade solution leveraging distributed ledger technology, and 14 partnering companies across the financial market value chain, have been selected by Banque de France, the French Central Bank, to trial the settlement in central bank money of financial transactions involving tokenised assets.
LiquidShare and its 14 partners, including 7 of its initial founders , were selected for their complementary expertise in harnessing blockchain technology to build an industrial, safe and robust post-trade market solution dedicated to securities tokens. This follows a call from Banque de France for applications to design and test an infrastructure enabling the clearing and settlement of tokenised financial assets using Central Bank Digital Currencies (CBDC).
LiquidShare’s technology aims at simplifying the chain of post-trade operations, narrowing the gap between issuers and investors for the benefit of small and medium sized companies. LiquidShare’s platform is live with its first issuer client since June 2020, providing a technological solution to operate the shareholder registry.
The 14 partnering institutions will complement LiquidShare by bringing their expertise across the entire value chain, including buy-sides, sell-sides and market infrastructures, namely:
- AXA Investment Managers,
- BNP Paribas Securities Services,
- CACEIS Bank,
- Caisse des Dépôts,
- CIC Market Solutions,
- Crédit Agricole Titres,
- Deutsche Börse,
- La Banque Postale,
- ODDO BHF,
- OFI AM,
- Société De Bourse Gilbert Dupont, and
- Société Générale.
The initiative is supported by AFTI, the French Association of Securities Professionals.
Anthony Attia, President of the Board of LiquidShare, said : “We are proud to be part of this innovative project, which is a key milestone in the development of robust and safe blockchain-enabled platforms and solutions. Our selection to lead this high profile project highlights the strengths of LiquidShare’s technology, which we have been developing and fine-turning for the past three years, and supporting partners.”
The results of this experiment will be a key element of Banque de France’s contribution to a broader project conducted by the Eurosystem on the potential implementations of a CBDC.