EuroclearN
Euroclear Next, Powered by UNITS
The Blueprint for
Tomorrow's Depository
A programmable, intelligent securities infrastructure built on the UNITS framework. Transforming how the world creates, holds, and transfers financial value.
Why EuroclearN?
The global securities infrastructure was designed for a paper-based era. Settlement cycles measured in days. Reconciliation across siloed ledgers. Fragmented custody chains spanning multiple intermediaries. The cost of this legacy architecture runs into billions annually.
EuroclearN is the blueprint for what comes next: a programmable, intelligent depository where every security is a digital token, every identity is verifiable, and every transaction settles with atomic finality. Built in partnership with Finternet Labs on the UNITS framework.
Why Atomium?
The Atomium, Brussels' iconic landmark, is a 102-metre structure of nine interconnected spheres representing an iron crystal magnified 165 billion times. Built for Expo 58, it symbolised faith in scientific progress and the power of atomic-scale precision.
We chose this name deliberately. Just as the physical Atomium connects nine spheres into a single unified structure, EuroclearN connects Euroclear's nine CSDs into a single programmable network. The metaphor runs deeper: atomic settlement (T+0), atomic DvP, and the crystalline precision of the UNITS protocol. Brussels is where Euroclear was born. The Atomium is where EuroclearN begins.
atomium1.neurail.io is the first instance of this vision, the Atomium Proposal by Finternet Labs, a living blueprint that demonstrates how Europe's largest securities depository can evolve into a programmable, intelligent infrastructure.
The UNITS Architecture
Three interconnected planes forming a Unified Institutional Ledger Protocol. Identity, Token, and Transaction planes work in concert to deliver programmable, verifiable, and atomic securities operations.
Identity Plane
LEI-anchored verifiable credentials. Six credential types (VC-01 through VC-06) covering institutional identity, regulatory status, asset eligibility, settlement authority, collateral rights, and cross-CSD passporting.
Token Plane
Every security becomes a programmable digital token (toket). Token Programs automate lifecycle events: coupon payments, corporate actions, encumbrances, and transfer restrictions execute as deterministic code.
Transaction Plane
Atomic DvP settlement with CBDC integration. Three settlement models (gross/gross, gross/net, net/net) with Digital Euro adapter. Cross-CSD transfers via the Collateral Highway reimagined on UNITS.
Transformative Capabilities
From bond issuance to collateral mobilisation, EuroclearN reimagines every workflow in the securities lifecycle with programmable intelligence.
Bond Issuance
End-to-end digital issuance with programmable coupon and redemption logic embedded in the token.
Collateral Highway
Reimagined tri-party collateral management with real-time allocation, substitution, and release.
Atomic DvP
Simultaneous securities and cash leg settlement eliminating counterparty risk entirely.
Cross-CSD Transfer
Seamless movement across 9 Euroclear CSDs via unified adapter stack and bilateral finality.
Regulatory Compliance
Built for DLT Pilot Regime, MiCA, CSDR, and eIDAS 2.0 with regulator observer nodes.
CBDC Integration
Digital Euro adapter for central bank money settlement alongside commercial bank and stablecoin options.
One Network.
Global Reach.
EuroclearN unifies the entire Euroclear group into a single programmable network. Euroclear Bank (ICSD) and 8 national CSDs operating on shared infrastructure, enabling seamless cross-border settlement and collateral mobilisation.
The Collateral Highway, reimagined on UNITS, enables real-time cross-border collateral mobilisation across all connected CSDs.
Ready to Explore the Future?
The EuroclearN Portal contains the complete blueprint: interactive workflows, deep-dive architecture pages, regulatory alignment mapping, and the full transformation roadmap.
Restricted access. Authorized recipients only.