eCurrency Mint and CMA have partnered to offer integrated RTGS and CBDC solutions for central banks. The two companies have made the move to provide central banks with an integrated solution for Real Time Gross Settlement (RTGS) and eCurrency Central Bank Digital Currency (CBDC).

This collaboration allows central banks to operationalise CBDC, allowing for fast access to currency in both physical and digital forms for commercial banks and intermediaries. The partnership between the two can offer central banks a secure infrastructure for issuing and redeeming digital currencies. The CBDC, powered by eCurrency and created by central banks as a digital bearer instrument, supports existing currency management processes for the issuance and distribution of physical notes and coins.

The RTGS system, used by intermediary banks for settlement and clearing, can now incorporate CBDC infrastructure to facilitate digital currency transactions. eCurrency is a technology provider for CBDC solutions, empowering central banks as issuers of sovereign currency. The eCurrency CBDC solution, based on DSC3 technology, ensures secure and non-counterfeitable digital bearer instruments.

Jonathan Dharmapalan, CEO of eCurrency, emphasized the importance of seamless integration between existing central bank processes and the CBDC platform. CMA, with its successful implementation of RTGS at numerous central banks worldwide, brings expertise in delivering payment systems to central banks. The eCurrency-CMA partnership aims to capitalize on the global shift to digital payments, offering efficiency gains, financial inclusion, sustainability, and economic growth.

Europe’s RTGS system In related news, the European Central Bank has launched the new T2 wholesale payment system, comprising an RTGS system and a central liquidity management tool. The migration to the new system took place between 17 and 20 March 2023. T2 replaces TARGET2 as the RTGS system for settling Eurosystem-related payments, including monetary policy operations and bank-to-bank and commercial transactions.

The introduction of T2 reflects the Eurosystem's commitment to modernising its payment infrastructure for enhanced operational efficiency and effectiveness. By embracing advanced technologies and collaboration, central banks and financial institutions are transforming the way currencies are issued, managed, and transacted, opening up new possibilities for the future of digital finance. .