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The Government of Palau launched a prototype of its blockchain-based savings bond system, Palau Invest, which will offer Palauan citizens, via a mobile app, a simple way to invest in their country while earning returns. The funds raised will be allocated to key national projects such as bridges, roads, and public infrastructure. The project is sponsored by the Japanese Ministry of Economy, Trade, and Industry (METI) Global South Future-Oriented Co-Creation Project. The system runs on Soramitsu's SORA v3 Hub Chain's Hyperledger Iroha 2-based network.

Bank Indonesia (BI) completed its Project Garuda proof of concept (PoC) for a distributed ledger technology (DLT) based digital rupiah wholesale cash ledger. The testing confirmed that the solution can meet the business and technical needs requirements (transaction security, interoperability with existing payment systems and financial infrastructure). Two DLT-based platforms were tested; Corda (R3) and Hyperledger Besu (Kaleido). Both were able to meet all testing scenarios and address all key questions. Project Garuda will proceed with a broader exploration of securities ledger, including exploring liquidity management and privacy technology.

The Eurosystem's distributed ledger technology (DLT) settlement trials in digital central bank money was associated with a spike in German tokenization, according to Deka Bank. German digital securities issuance in the second half of 2024 totaled €615 million, compared to a total of €235 million cumulatively in up until then. Cashlink and Smart Registry (Nyala), who tend to use public blockchains (mostly Polygon) , were the most prolific issuers, with almost 90 issues between them in 2024. However, in terms of volume, Deka Bank dominated. Deka Bank hosts its tokenized issuance on the SWIAT platform that uses the permissioned Hyperledger Besu blockchain. https://www.deka.de/site/dekade_deka-gruppe_site/get/params_E-283343169/22365381/Deka%20Digital%20Asset%20Monitor_2024.pdf

IBM said at least two major U.S. banks are considering whether to follow JPMorgan Chase & Co.'s lead in issuing a stablecoin. IBM said it is also working with six non-U.S. banks on digital currencies, including BNK Financial Group Inc.'s Busan Bank in South Korea, and in the Philippines, Rizal Commercial Banking Corp., which is expected to issue a stablecoin in the second quarter. The banks are awaiting approvals from regulators.

This Global Digital Finance paper reflects on the evolution of the enterprise blockchain ecosystem, assesses the current state of the industry, and explores the key trends that will shape its future trajectory. Findings are based on research conducted in June and July 2020, which involved desktop research and semi-structured interviews with key decision-makers from the ecosystem's leading companies. It also provides a conceptual framework for how to approach the blockchain ecosystem that categorises projects into four layers. The framework can be equally applied to public blockchains and crypto-assets.