Euroclear and the Banque de France have launched Project Pythagoras, a large-scale financial securities tokenization experiment bringing together 33 companies including BNP Paribas, JPMorgan, Crédit Agricole, EDF, TotalEnergies, and Saint-Gobain. The tests will cover the entire lifecycle of a financial instrument (issuance, settlement, use as collateral, and repayment), starting with the NEU CP market, a short-term debt market representing approximately 300 billion euros in outstanding amounts. The project connects the Banque de France’s blockchain infrastructure to Euroclear’s D-FMI tokenization platform, built on Besu, an open-source software compatible with Ethereum. Pontes, the ECB’s central bank money settlement system officially launched on September 21, and SG-FORGE’s dollar-denominated stablecoin will also be tested as part of the experiment, which aims to prevent the fragmentation of the financial system in the face of proliferating DLT technologies.
Source: Read the original article
