Deutsche Bank and UBS use Deutsche Bank's Trigger solution to settle tokenized deposit payments

According to Foresight News, UBS and Deutsche Bank announced that as part of the European Central Bank's wholesale DLT settlement trial, they simulated tokenized deposit payments between banks. The Trigger solution from the Bundesbank enables blockchain based systems to link to the Trigger Chain and initiate payments in central bank currency on the Targeted 2 payment system. In terms of tokenized deposits, tokens are destroyed on the sending blockchain and minted at the receiving bank. Two experiments were conducted this time, one involving time sensitive Euro payments. The second simulation of GBP and CHF transactions between Deutsche Bank London Branch and UBS Group in Switzerland, settled in euros.