26 June 2025
KDPW and StaBillon Become Partners in the CSDonDLT Project
KDPW has signed a cooperation agreement with StaBillon (majority owned by Billon Group Ltd) which will be the provider of e-money tokens in the CSDonDLT project enabling the settlement of OTC transactions using blockchain. The integration of e-money tokens with the post-trade infrastructure will enable the settlement of securities transactions on a delivery-versus-payment (DvP) basis, bringing them closer to full atomicity of securities exchange for cash where the transfer of assets and payments takes place simultaneously and irrevocably.
KDPW is implementing the CSDonDLT project which will enable the implementation of an additional complementary layer of the depository and settlement system based on blockchain. At this stage, the solution under development focuses on the settlement of OTC transactions, covering the safe-keeping and unencumbered transfer of securities as well as the atomic settlement of transactions within the DLT layer.
StaBillon (formery Billon Solutions) is a new brand of the first (and so far the only) licensed electronic money institution (EMI) in Poland operating under a licence granted by the Polish Financial Supervision Authority (KNF) in 2019 and issuing electronic money since March 2021.
One important element of the project is the possibility of immediate settlement of transactions with simultaneous transfer of rights to assets and recording the assets on a dedicated securities account in the blockchain network and transfer of e-money tokens. In addition to providing investors with full access to their assets and the possibility of 24/7/365 settlement, this approach significantly increases operational and cost efficiency.
Maciej Trybuchowski, President of KDPW: Distributed ledger technology (DLT) is a breakthrough in the way we think about capital market infrastructure. We at KDPW see DLT not as a threat to traditional market institutions but as an opportunity for their transformation and adaptation to the requirements of the modern digital economy. In our work, we have found that DLT has the potential to significantly simplify settlement processes, especially in the case of over-the-counter (OTC) transactions. The settlement of transactions involves the transfer of securities and cash. In the CSDonDLT model we are developing, KDPW is creating a system for securities services, while StaBillon will be the provider of e-money tokens. StaBillon is licensed by the KNF to issue electronic money and has extensive experience in implementing projects using blockchain.
Jacek Figuła, Supervisory Board, StaBillon: With over a dozen years of experience in storing tokens, data and documents in distributed data structures, StaBillon (formerly Billon Solutions) is the perfect partner for the CSDonDLT project. The combination of technology and the electronic money licence enables instant 24/7 exceptionally secure transactions in the world of digital tokens. Thanks to integration with the banking system, the transition from traditional finance (TradFi) to the digital world (increasingly referred to as Distributed Finance) also takes place instantly. Under the MiCA Regulation, which allows the opening of national electronic money systems, we are also opening the CSDonDLT project to (corporate and individual) clients outside Poland and the European Union.
KDPW has recognised the potential of Distributed Ledger Technology as early as 2017. It was one the first capital market infrastructures in the world to implement and continue to develop solutions and services based on blockchain. The first of these was a system supporting general meetings of joint-stock companies with a remote voting option - eVoting. The solution is available on the Blockchain Platform for the Capital Market.
KDPW is implementing the CSDonDLT project which will enable the implementation of an additional complementary layer of the depository and settlement system based on blockchain. At this stage, the solution under development focuses on the settlement of OTC transactions, covering the safe-keeping and unencumbered transfer of securities as well as the atomic settlement of transactions within the DLT layer.
StaBillon (formery Billon Solutions) is a new brand of the first (and so far the only) licensed electronic money institution (EMI) in Poland operating under a licence granted by the Polish Financial Supervision Authority (KNF) in 2019 and issuing electronic money since March 2021.
One important element of the project is the possibility of immediate settlement of transactions with simultaneous transfer of rights to assets and recording the assets on a dedicated securities account in the blockchain network and transfer of e-money tokens. In addition to providing investors with full access to their assets and the possibility of 24/7/365 settlement, this approach significantly increases operational and cost efficiency.
Maciej Trybuchowski, President of KDPW: Distributed ledger technology (DLT) is a breakthrough in the way we think about capital market infrastructure. We at KDPW see DLT not as a threat to traditional market institutions but as an opportunity for their transformation and adaptation to the requirements of the modern digital economy. In our work, we have found that DLT has the potential to significantly simplify settlement processes, especially in the case of over-the-counter (OTC) transactions. The settlement of transactions involves the transfer of securities and cash. In the CSDonDLT model we are developing, KDPW is creating a system for securities services, while StaBillon will be the provider of e-money tokens. StaBillon is licensed by the KNF to issue electronic money and has extensive experience in implementing projects using blockchain.
Jacek Figuła, Supervisory Board, StaBillon: With over a dozen years of experience in storing tokens, data and documents in distributed data structures, StaBillon (formerly Billon Solutions) is the perfect partner for the CSDonDLT project. The combination of technology and the electronic money licence enables instant 24/7 exceptionally secure transactions in the world of digital tokens. Thanks to integration with the banking system, the transition from traditional finance (TradFi) to the digital world (increasingly referred to as Distributed Finance) also takes place instantly. Under the MiCA Regulation, which allows the opening of national electronic money systems, we are also opening the CSDonDLT project to (corporate and individual) clients outside Poland and the European Union.
KDPW has recognised the potential of Distributed Ledger Technology as early as 2017. It was one the first capital market infrastructures in the world to implement and continue to develop solutions and services based on blockchain. The first of these was a system supporting general meetings of joint-stock companies with a remote voting option - eVoting. The solution is available on the Blockchain Platform for the Capital Market.
