The Czech National Bank announced that it completed small tests of transfers, purchases and sales of tokenized bonds and repo transactions in October and November. Settlement was almost instantaneous, but transaction volumes reached only tens of thousands of koruna. The bonds, each with a nominal value of CZK 10,000, ran on Prague’s Central Securities Depository infrastructure using distributed-ledger technology, with Česká spořitelna as counterparty. Governor Aleš Michl wants settlement to occur in central bank money, which could reduce demand for stablecoins in eligible institutional transactions. Europe’s Pontes infrastructure, launched on September 21, already provides this type of settlement and is planned to offer significantly longer operating hours by mid-2027 and continuous availability in 2028.
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