DLT offers new possibilities for securities settlement, say ECB and BoJ

Second phase of ‘Project Stella’ looks at delivery versus payment on three DLT platforms


The European Central Bank and the Bank of Japan published a joint report on March 27 on how distributed ledger technology, or DLT, can be used in transactions such as securities settlements.

The report is the outcome of the second phase of their joint research undertaking, “Project Stella”. The team from the two central banks issued a report on the first phase of their work, looking at payment systems using DLT, in September 2017.

The second phase of the project aimed to explore how a DLT

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