Deutsche Börse’s Clearstream launched its D7 platform four years ago. The first iteration was a centralized version called D7 Digital, which has now been used for €44 billion in issuances, especially for digital bonds and structured products. Today Clearstream went live with its tokenization solution, D7 DLT, which differs from D7 Digital by operating on distributed ledger technology.

Given Clearstream is a central securities depository (CSD), it’s no surprise that D7 DLT issuances are CSDR compliant. By integrating with the CSD any issuances will be accessible to investors that are not yet up to speed on DLT. For those who have adopted DLT, the platform can integrate with 360X, the licensed DLT venue that is part owned by Deutsche Börse.

Initially the solution is being rolled out in Luxembourg via Clearstream Banking SA, with Eurobonds as an important target. Clearstream recently partnered with Euroclear to develop a common data standard that creates the foundation to tokenize the €14 trillion Eurobond market. The European Investment Bank has been the first bond issuer on many of Europe’s major digital issuance platforms and is a Clearstream client. So it’s highly likely there will be a D7 DLT EIB issuance in the not-too-distant future.

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