#3: HSBC and IBM’s joint CBDC Project

CBDC Broadcast

9 Mar

16th March 2022

With:

| Mark Williamson (HSBC)

| Soren Mortensen (IBM)

In Session #3, Mark Williamson (HSBC) and Soren Mortensen (IBM) join FNA to discuss their groundbreaking joint project. As part of a series of experiments led by the Banque de France, HSBC, and IBM successfully moved CBDC from theory to execution, settling real-world transactions across a complex, multi-ledger environment.

The project utilized IBM’s Weaver interoperability tool to link two distinct DLT technologies—Hyperledger Fabric and R3’s Corda. This "bridge" allowed for the simultaneous settlement of multiple assets, including digital bonds (eBonds) and foreign exchange (FX) transactions. By proving that CBDCs can thrive in a hybrid cloud environment, this initiative provides a clear roadmap for reducing market risk and settlement times for central banks and global financial institutions.

Key Discussion Points:

Multi-Ledger Connectivity: How the project achieved direct interoperability between different blockchain protocols without a centralized intermediary.
Complex Asset Lifecycles: A deep dive into the end-to-end execution of primary and secondary bond trading (DvP) and real-time FX settlement (PvP).
The Weaver Tool: Insights into IBM Research’s technology that enables "atomic" transactions across fragmented digital islands.
Efficiency & Security: Quantifying the reduction in market risk and the security benefits of using advanced tokens and digital wallets.
Hybrid Cloud Deployment: The role of public and private clouds in creating a resilient infrastructure for central bank money.

Watch on Demand:

Listen on: Spotify | Apple Podcasts | Amazon Music

Resources & Links:

HSBC and IBM successfully test multi-ledger CBDC, bond and FX settlement capability Read More >
HSBC and IBM successfully design and test interoperable Multi-ledger Central Bank Digital Currency, Securities and Foreign Exchange Settlement Capability Read More >