The collaboration between Montran and eCurrency offers central banks the same level of control and efficiency over the issuance and redemption of CBDCs as banknotes and coins. This comprehensive solution automates the process in which participants order CBDC and settle the order in the RTGS system, similar to the processes used for physical currency, with the added efficiency of digital currency. The solution is open and responds to standard messaging formats. It is also fully configurable to meet different country requirements and environments.
“This is a groundbreaking development by both our companies and the first implementation of CBDC to achieve this level of integration and interoperability. We are excited to work with eCurrency to continue to innovate with CBDC and enable instant payments with Montran’s ISO20022 compliant instant payments solution,” said Charles WalchExecutive Vice President, Montreal. “This is fully in line with Montran’s overall strategy to expand and expand our existing strategic partnerships with our Central Bank clients in the Caribbean and globally.”
eCurrency is a pioneer of central bank digital currency. It is the world’s first true retail CBDC solution enabling central banks to mint, issue, circulate and redeem CBDCs as secure digital bearer instruments. CBDC is legal tender and is distributed through existing banking and fintech ecosystems. “We are delighted to form this partnership with Montran to provide a comprehensive solution to our central banking clients as they deploy and distribute CBDC in their national ecosystem,” said Jonathan Dharmapalan, CEO of eCurrency.
Montran Corporation is the world’s leading provider of comprehensive ISO20022 compliant payments market infrastructure solutions in over 70 countries. This includes comprehensive national payment ecosystems for clearing and settling wholesale, retail and instant payments for central banks, central clearing institutions and payment system operators.
SOURCE eCurrency Mint Inc.