eCurrency Mint and CMA announced partnership
June 26, 2023
OAKLAND, Calif., June 26, 2023
eCurrency Mint and CMA announced today that they are partnering to provide central banks an integrated Real Time Gross Settlement (RTGS) and eCurrency Central Bank Digital Currency (CBDC) solution. This collaboration operationalizes CBDC allowing seamless support for commercial banks and other intermediaries to access currency in both physical and digital form.
The partnership between eCurrency and CMA provides central banks with a secure and efficient infrastructure to issue and redeem digital currency created by the central banks. CBDC powered by eCurrency and created by central banks as a digital bearer instrument supports the existing currency management processes in place for the issuance and distribution of notes and coins. The RTGS system is the settlement and clearing mechanism used by intermediary banks to order currency and to support other joint operations in orchestration with CBDC infrastructure. An integrated CBDC-RTGS infrastructure will seamlessly allow for incorporating the current capability to facilitate currency in digital form.
eCurrency is the leading technology provider for CBDC solutions enabling central banks to maintain their roles as the sole issuers of sovereign currency. eCurrency CBDC solution is based on DSC3 technology, a security technology for central banks to create and issue a safe, secure, and non-counterfeitable digital bearer instrument.
"With this partnership we shift to operationalizing CBDC. The key is for current central bank processes and systems to work seamlessly with our CBDC platform. CMA's RTGS plays a vital role for central banks as does eCurrency's CBDC solution, therefore it is crucial that the two systems are tightly integrated. We are excited to bring the benefits of our partnership to central banks," said Jonathan Dharmapalan, CEO, eCurrency.
CMA has implemented RTGS successfully at dozens of central banks worldwide. The CMA RTGS solution is a modern solution with enhanced monitoring and liquidity management features. It is based on proven, high-reliable, state-of-the art, and efficient technologies.
"CMA is excited to explore new opportunities that this partnership could bring, aligning our 30 years of experience in building and delivering payment systems for central banks with eCurrency's unique and mature enterprise-grade CBDC solution," said Grigory Shiyan, CMA, Director.
About eCurrency
eCurrency Mint is the leading innovator and technology provider for Central Bank Digital Currency (CBDC). eCurrency CBDC solution is the first to be operationalized to issue digital fiat currency operating alongside notes and coins. The company combines hardware, software, and cryptographic security protocols to provide central banks the tools they need to preserve their charter as the sole issuer of sovereign currency in an increasingly digital economy. eCurrency supports the huge economic opportunities presented by the global shift to digital payments, including efficiency gains, financial inclusion, sustainability and economic growth.
For more information visit: www.ecurrency.net.
