Proposal of a Regulated Liability Network (RLN) Architecture to Support Settlement of Tokenized Assets, Liabilities and Transactions Using Tokenized Deposits and Wholesale CBDC (Real Digital)

Davi Castelo Branco Dias da Cunha

Diego da Silva Oliveira

João Paulo Aragão Pereira

Ricardo Araujo de Almeida

Wesley Rodrigues da Silva


This article presents the applicability of the Regulated Liability Network (RLN) in the settlement of financial transactions obligations through exchange of tokenized assets, including Real Digital — Wholesale CBDC (Central Bank Digital Currency). The main themes described in this article are related to the layers that make up the proposed architecture for Real Digital in Brazil, from advanced security using confidential computing, post-quantum cryptography (PQC) for digital signature, multiparty computing, KYC (Know Your Customer), KYT (Know Your Transaction), data privacy, and also to propose an interoperability layer, fungibility between different assets and compatibility between infrastructures based on distributed ledger technology (DLT) technology. This architecture must be compatible with EVM (Ethereum Virtual Machine), based on the guidelines of the Brazilian Central Bank, for DvP (Delivery versus Payment), PvP (Payment versus Payment) transactions, and even interoperability with current payment systems, such as PIX (BCB’s faster payment system) or payments initiation entities via the Open Finance infrastructure. In summary, we present a feasible architecture designed to support a multi-assets model and an account-based “regulated liabilities” capable of supporting a programmable layer, digital money in the form of tokenized deposits or wholesale CB- DCs (Central bank digital currencies), “off-chain/on-chain” flow control and “on-chain”


Publicado Dec 22, 2023

CBDC, real digital, RLN, security, interoperability