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Regulation & supervision

Czech National Bank issues its first tokenised DLT bonds

EUSource: Czech National Bank

AI-generated image: Rolled bond certificate turning into linked glass tiles beside a koruna coin, a silver key and a counter bellAI-generated image
AI-generated image
  • The Czech National Bank says it has issued koruna-denominated bonds in tokenised form on the DLT infrastructure operated by the Central Securities Depository, and tested bond transfers, purchases and sales against payment, and repo transactions with a domestic commercial bank as counterparty; settlement took place almost instantaneously, the transactions took place in October and November, and their volume was in the tens of thousands of koruna.
  • In his speech the same day, Governor Aleš Michl named Česká spořitelna as the counterparty and said each bond had a nominal value of CZK 10,000.
  • The CNB says it has verified it can use the new infrastructure for monetary policy operations and for managing its international reserves, and that it recently invested in a euro-denominated government bond that exists exclusively on DLT.

Why it matters

Czech banks that deal with the CNB in monetary policy operations now have a central bank statement that tokenised CNB bonds, including repo against them, work end to end on the depository's DLT platform, alongside the Governor's position that settlement should rest on central bank money rather than stablecoins.

Read the original: Czech National Bank ↗

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More detail

Who is affected

Domestic commercial banks acting as counterparties in CNB monetary policy operations, and the Central Securities Depository, which operates the DLT infrastructure and registers and settles the bonds.

Key dates

  • CNB announces its first DLT bond (press release and Governor's speech)

What remains uncertain

  • The release does not say what settlement asset was used for the cash leg of the test transactions.
  • No date is given for any move beyond testing; the CNB says only that it is ready to use the technologies actively.

Key facts

Event
Pilot
Jurisdiction
EU
Source
Czech National Bank
Source tier
Tier 1 · Regulator / central bank
How we verified this

The source says

“For the first time in its history, the Czech National Bank (CNB) has issued its bonds in tokenised form using distributed ledger technology (DLT).”

“It tested bond transfers, purchases and sales against payment, as well as repo transactions.”

“A domestic commercial bank acted as the counterparty in the tests. Settlement took place almost instantaneously. For testing purposes, the volume of the transactions was in the tens of thousands of koruna. The transactions took place in October and November.”

“It recently invested in a euro-denominated government bond that exists exclusively on DLT.”

Verbatim from Czech National Bank, matched word for word against the live page on 13 November 2026.

Evidence

Confidence
High Primary source (regulator / official record); quote string-matched against the live page.
Quote verified
2026-11-13 11:59 UTC
Archived snapshot
SHA-256 403ec05fb257501f… · fetched 2026-11-12 · Wayback Machine copy ↗
Source type
Primary Czech National Bank ↗
Change log (1)
  1. 2026-11-12 Published

Full evidence record · How we label confidence

AI-assisted: the summary and analysis were drafted with AI from the primary source and checked by the editors. AI-drafted from the primary source; quote string-matched against the live source page.

Methodology · How we classify sources · Corrections · Report an error

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