Deutsche Boerse and Swisscom Settle Securities Use Corda and Hyperledger Blockchain Protocols


Deutsche Boerse and Swisscom, the German securities marketplace and Swiss telecom that’s run by the state, have just settled security transactions via blockchain protocols.

On November 19th, Deutsche Boerse made an official announcement that it initiated a proof-of-concept (PoC) with Swisscom. The PoC involved a few banks and had participants exchanging money as tokens and against tokenized shares.

This joint PoC is blockchain-based and meant to show how much potential new technologies bring when it comes to financial services. More than this, it keeps Germany and Switzerland active in the space of digital assets.

The Joint PoC Had Three of the Most Important Swiss Banks Participating

The banks involved in the PoC were among the major ones in Switzerland, such as Zuercher Kantonalbank, Falcon Private Bank and Vontobel.

They all acted as counterparties and exchanged securities tokens against cash ones. The Swiss National Bank was also indirectly involved, seeing the cash tokens have been deposited as collateral in its Eurex Clearing account. Deutsche Boerse provided Swiss francs cash tokens.

The Cross-Chain Secure Settlement Used Corda and Hyperledger

For the cash and securities tokens to be processed, the participants in the PoC deployed Corda from R3 and Hyperledger Fabric from IBM distributed ledger technologies (DLT), completing the cross-chain security settlement. Some other participants partnered up with the blockchain company Daura and with Custodigit, which is a venture held in custody by Sygnum and Swisscom.

Deutsche Boerse noted that all firms provided digital share registry core elements for the PoC. This initiative is another breakthrough in the blockchain-based collaboration between Deutsche Boerse and Swisscom.

The two companies partnered up with Sygnum, the fintech firm based in Singapore, earlier this year. The aim of this partnership is to develop a proper infrastructure for the digital assets financial market.

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