The Venus initiative comprised of Banque de France, Banque centrale du Luxembourg, Goldman Sachs Bank Europe S.E., Santander, Societe Generale and European Investment Bank (EIB). It involved providing a safe settlement asset in the form of a tokenised representation of euro central bank money that can be described as an experimental Central Bank Digital Currency (CBDC).
A digital native bond worth 100 million Euros issued by the European Investment Bank under Luxembourg law, was settled using a tokenised representation of euro central bank money.
The EIB digital bond, specifically designed for digital platforms, was created and recorded on a controlled Distributed Ledger Technology (DLT). Subscriptions to the bond were settled using experimental CBDC tokens on a separate controlled DLT jointly operated by the Banque de France and the Banque centrale du Luxembourg. This endeavor involved the development and implementation of a reliable messaging system between DLTs, which included a Hashed Time lock Contract (HTLC) protocol. This mechanism allowed for the simultaneous transfer of experimental CBDC tokens and delivery of the digital bond on the same day it was issued.
The demonstration highlighted the potential for issuing, distributing, and settling digital assets within the Eurozone in a single day.
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