Definition ∞ Wholesale Market Settlement refers to the final transfer of funds or securities between financial institutions, typically large banks or institutional participants, in high-value transactions. In a digital context, this involves the atomic exchange of central bank digital currencies or other digital assets between these entities on a dedicated digital ledger. It ensures the irreversible and final completion of interbank or inter-institutional payments. This process underpins the stability of the broader financial system.
Context ∞ The discussion surrounding wholesale market settlement in the digital age focuses on leveraging blockchain technology and central bank digital currencies to improve efficiency, reduce costs, and mitigate risks in interbank transactions. Central banks are actively exploring pilot programs for wholesale CBDCs. A key debate involves the technological infrastructure and regulatory frameworks required to support secure and interoperable digital wholesale settlement systems globally.
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