Stuttgart/Frankfurt, 14 November, 2025 – The Commercial Bank Money Token (CBMT) Working Group today announced the launch of the CBMT Sandbox, a collaborative test environment for banks and enterprises to pilot (CBMT) in live institutional and corporate use cases. A launch event will be held on 19 November in Frankfurt. As part of the next phase, Giesecke+Devrient (G+D), GFT Technologies and the Universal Digital Payments Network (UDPN) will serve as official Technical Service Providers (TSPs), supporting onboarding, integration, and interoperability of banking and business systems across multiple distributed-ledger stacks. Oracle is joining the initiative as the blockchain ledger and infrastructure provider for the CBMT Sandbox.
A collaborative industry effort
The CBMT initiative brings together major German banks and industrial firms. In 2024, the project group conducted a proof of concept (PoC) centred on interoperability, secure programmability, robust governance, and regulatory compliance. The results identified CBMT as a “transformative force” that enables on-chain payments using existing deposits, delivers next-level efficiencies, and paves the way for innovative new financial products.
According to Claus George, Head of Digitalisation and Innovation TxB at DZ BANK AG, “It was extremely valuable that our customers were actively involved in the development of CBMT. As a result, CBMT combines the positive characteristics of commercial bank money with the innovative potential of DLTs, while also being compatible with the emerging infrastructures we see here today”.
The role of CBMT
Commercial Bank Money Token represents a pioneering step towards a more digitalised financial system by placing commercial bank money onto distributed ledger technology (DLT). This enables the seamless execution of money flows gws and business processes within the same systems, unlocking both conventional and future-facing use cases across domestic and cross-border environments.
“Stablecoins carry new economic and operational risks that continue to deter corporate adoption. CBMT by contrast, delivers a programmable form of settlement to the digital economy that preserves the singleness of money and is aligned to the same prudential standards governing bank deposits today. ” added Roberto Pagliari, Senior Product Owner - DLT Cash and Markets at Commerzbank AG.
As the next milestone, the working group will launch the CBMT Sandbox, allowing participants to explore the full lifecycle and end-to-end logic of tokenised money flows, from issuance to enterprise payments and interbank settlements, while testing real-world applications in a controlled environment. The vision is to build a multi-issuer, multi-currency, multi-chain CBMT ecosystem. G+D, GFT, and UDPN will provide technical expertise throughout the process, ensuring smooth deployment, structured onboarding, and comprehensive validation of use cases.
“At G+D, we see the CBMT initiative as a foundational step toward a secure, efficient and interoperable tokenised financial ecosystem. The CBMT Sandbox enables banks and enterprises to explore real-world applications such as working capital optimisation or machine-to-machine (M2M) payments. It’s a great opportunity to validate functionalities and efficiencies of tokenised commercial bank money,” said Abbas Albasha, Senior Strategy Consultant at G+D.
Opening the sandbox
Commercial bank money equals roughly 85 per cent of the money supply in Europe today. With the CBMT Sandbox, the working group is laying the foundations for a new financial infrastructure where commercial bank money operates natively on digital rails. As a trusted means of payments, a versatile settlement instrument, and an efficient liquidity management tool, CBMT provides a future-ready framework for both wholesale and commercial applications.
“Financial institutions are entering a new era where tokenised commercial bank money and regulated digital currencies unlock transformative opportunities. At GFT, we bring deep banking expertise together with our innovation track record in digital currency infrastructure to enable this shift. The CBMT Sandbox provides the ideal environment to explore new use cases, from treasury operations across jurisdictions and automated industry payments, that bridge today’s banking systems with tomorrow’s digital economy.” added Steffen Schacher, Digital Assets & UDPN Lead at GFT Technologies.
“Major banks and financial institutions worldwide trust Oracle to support some of their most critical operations,” said Mark Rakhmilevich, vice president, Blockchain and Digital Assets Product Development at Oracle. “Oracle is proud to support the CBMT initiative and help streamline adoption of digital assets by providing blockchain capabilities that help address requirements around scalability, resiliency, security, integration, and regulatory compliance.”
The CBMT working group is now opening the Sandbox and inviting participation from commercial banks, as well as industrial enterprises across Europe and globally, to participate in the Sandbox, accelerating the journey from exploration to pilots to production deployment. Interested participants should email contact@udpn.io for more information on how to join.
