Since its inception in 2016, Modulr has grown to become the leading provider of embedded payments to businesses across the UK and Europe. Authorised by the UK’s FCA, the Central Bank of Ireland and de Nederlandsche Bank as an Electronic Money Institution, Modulr enables 200+ clients to automate, control and embed payments and is now processing an annualised transaction value of more than £100bn.

In addition, Modulr will be joining the Digital Pound Foundation’s Payments and Use Cases Working Groups, taking a leading role in both groups in driving the foundation’s agenda and thought leadership in these two key areas of our work.

Ritesh Tendulkar, Chief Innovation Officer at Modulr, commented: “At Modulr, it’s our purpose to enable growth and innovation by making money flow more efficiently through business and the economy. That’s why we’ve become a member of the Digital Pound Foundation to collaborate with other forward-thinking businesses to build the digital economy of the future.”

William Lorenz, Payment Strategy Director at Modulr, will now join the Digital Pound Foundation’s steering committee, further strengthening our ability to deliver on our mission to advocate for and demonstrate the societal impact and benefits to the UK that arise from a variety of new forms of digital money.

Claire Conby, Operations and Governance Lead at Digital Pound Foundation added: “We are delighted to welcome Modulr to the Digital Pound Foundation community and look forward to working with William and Ritesh as we continue with our analysis of the attributes and considerations for a well-designed digital pound. We will soon be increasing our focus on use case exploration, an area which we know is of particular interest to Modulr, so the addition of Modulr as a member at this juncture is extremely timely.”