All classes of fixed income securities (vanilla debt, green bonds, Islamic bonds, loans and private debt) are capturing the attention of CSDs and DLT operators around the world.

Digital assets (notably securities issuance) are emerging as the leading usage case for DLT – encompassing many other areas of the trade cycle. Crypto is gaining in importance and is a critical learning point for many firms as they look to operationalise DLT in their worlds. But experimentation and niche usage cases continue across the buy- and sell-sides.

With twice as many live cases as 2020, we’re clearly gaining momentum in our DLT deployment. But with the number of pilots and planned projects still stable, does that mean that our success rate from pilots is growing? Are we getting better at planning and managing our DLT experiments – so that more turn up as live projects?