ECB DLT trials in 2024: key findings

Distributed Ledger Technology (DLT) in Europe is moving beyond theory and into market testing. The European Central Bank (ECB) trials created a practical environment for firms to test infrastructure, deepen expertise and assess how digital market models could evolve across the European Union. 

What did participants gain from the ECB DLT trials, and how far have they moved the European market forward? Where is momentum building, and what do the trials suggest about the future role of DLT in securities processing and market infrastructure?

The findings are based on interviews with 32 participants in the ECB DLT trials, conducted in November and December 2024, alongside wider market analysis of the current state and outlook for DLT across the European Union.

The research, developed by The ValueExchange based on participant interviews from the ECB DLT trials, highlights:

• 60+ organisations involved across central banks, issuers, banks, market infrastructures, investors and technology providers — the trials achieved broad market representation

• 200+ transactions completed, covering securities issuance, settlement, servicing and mobilisation, giving participants practical exposure to live DLT use cases

• The trials processed euro (EUR) 1.6 billion in assets under management and turnover, showing meaningful scale in a testing environment

• Participants said the trials accelerated learning, moving many firms from beginner to intermediate levels of DLT experience

• Infrastructure momentum is building: the work created a stronger foundation for wider digital market development across more than 70 firms in Europe