Core engineering and protocols for Atomic DvP / PvP Settlement.
In cross-border foreign exchange, 'Herstatt risk' occurs when one bank fulfills its side of a trade during European banking hours, but the counterparty defaults before American markets open hours later. WCBDCVault eliminates this counterparty risk through atomic Payment-versus-Payment (PvP) execution: currency A transfers if and only if currency B transfers simultaneously.
When institutional participants settle tokenized government bonds or commercial paper, WCBDCVault coordinates Delivery-versus-Payment (DvP). The asset token transfer and the central bank digital currency payment execute as a single atomic ledger transaction, eliminating middle-office reconciliation and multi-day settlement delays.