The Commercial Bank Money Token initiative has added three new technical service providers, with UDPN, G+D and GFT Technologies confirming their involvement.
The project is exploring ways to issue and use tokenized deposits for business transactions through distributed ledger technology (DLT).
A proof-of-concept involving banks including DZ Bank, Unicredit and Commerzbank, as well as industrial participants such as Siemens, BASF, Evonik and Mercedes Benz, has already demonstrated how the system could be applied in practice. The CBMT model is designed to enable businesses to settle digital transactions securely and efficiently, while also aligning with regulatory requirements.
Testing applications across industries
The group plans to run tests across several scenarios. These include delivery-versus-payment in supply chain and trade finance, inter-company cross-border transfers and working capital management. More advanced use cases, such as machine-to-machine payments in industrial settings, both online and offline, are also being considered.
According to officials from G+D, tokenized deposits and stablecoin-like solutions could play a role in supporting automated payments and processes linked to the Internet of Things (IoT). They said the CBMT framework has been designed to provide a structure for the issuance and operation of these types of deposit services.
Representatives from GFT noted that commercial bank money tokens have the potential to speed up business transfers, making financial operations more efficient in a digital economy. They added that the participation of UDPN and GFT aims to build technology systems that could contribute to wider digital transformation.
The CBMT solution will rely on the technical services provided by UDPN, G+D and GFT, including system interoperability, integration with banking and enterprise infrastructure, and DLT-based services. The working group also intends to expand adoption by connecting with new financial institutions and industry participants.
