Laura WilesIn collaboration with the Bank for International Settlements Innovation Hub, the BoE has launched an experimental wholesale settlement DLT innovation challenge, in order to better understand how the private sector will incorporate DLT into its processes.
The challenge is an invitation to firms to demonstrate how to securely transact and settle central bank money on an external ledger that is not controlled by BoE, and where trust is not inherent.
It will run for around a month from mid-September, and successful applicants will participate in virtual ‘deep dives’ to examine how their solution addresses four key learning outcomes:
- Settlement finality and security;
- Scalability;
- Network and asset control; and
- Interoperability.
Participants will then be shortlisted to present at an in-person showcase on 21 October 2025.