EQS-News: GFT Technologies SE: UDPN launches All-in-One Digital Currency Sandbox
EQS-News: GFT Technologies SE
/ Key word(s): Product Launch/Miscellaneous
UDPN launches All-in-One Digital Currency Sandbox Singapore/Stuttgart 13 March 2024. Over 130 countries globally are currently investigating, developing, or have already launched CBDCs. Financial innovation is not limited to central banks. Citigroup’s launch of Citi Token Services and Societé Generale’s December 2023 announcement of their bank-issued stablecoin are the most recent examples of how traditional financial institutions are making digital assets an essential part of their service offerings to their clients. The Universal Digital Payments Network (UDPN)’s new All-in-One Digital Currency Sandbox, launched on 29th February, enables both commercial and central banks to learn about the latest digital currency technology, test built-in use cases, and develop their own new custom use cases. The Sandbox will help financial institutions prepare for the new digital financial world and build innovative new services. It was built based on the insights from the UDPN team’s work over the past year with over 25 global commercial banks, central banks, and technology companies. The financial infrastructure of tomorrow Marika Lulay, GFT's CEO, declared, “With the All-in-One Digital Currency Sandbox, we are making a significant leap in digital currency deployment. Banks receive a robust arena for innovation and partnership.” She noted, “Our dive into diverse digital currency technologies marks a shift from mere exploration to crafting tomorrow's financial infrastructure. For GFT, UDPN has great strategic significance, as it will, in the long run, unlock new revenue streams for GFT and further diversify our business model.” A secure environment for digital currency development With the aim of providing both commercial banks and central banks the technology they will need for digital currencies, the UDPN All-in-One Digital Currency Sandbox is a secure environment that banks can control and provide permissioned access to other institutions in their ecosystem. The UDPN Sandbox has the full range of digital currency technologies including retail CBDC, wholesale CBDC, tokenised deposits, stablecoins, purpose-bound money, and security and bond tokenisation systems. The Sandbox includes complete retail CBDC systems for banks to test quota management, issuance, circulation, third-party access APIs, and wallet and transaction management. The UDPN team also announced Project Kissen, a fully developed cross-border multiple wholesale CBDC settlement platform deployed on the UDPN. Central banks and commercial banks can participate in Project Kissen through the UDPN Sandbox to explore the power of wholesale CBDC to address the high costs, settlement risks, and low speed of cross-border settlements. The UDPN enables interoperability between multiple Central Bank Digital Currencies (CBDCs), tokenised commercial bank money, and regulated stablecoins. It aims to drive down payment and foreign exchange costs whilst accelerating the uptake of regulated digital currencies. The programmability of value-added financial services will enable new business models and enhance the efficiency and transparency of cross-border payments. The UDPN is currently exploring real-life use cases with tier-one financial institutions in a series of 12 PoC’s. This press release is also available for download via the GFT newsroom
To learn more about the Universal Digital Payment Network (UDPN) Sandbox, please visit www.udpn.io. 1CBDC Tracker: Today’s Central Bank Digital Currencies Status (2024) Your contacts
UDPN press: About Universal Digital Payments Network The UDPN is a distributed ledger technology (DLT) underpinned messaging backbone that provides interoperability between the fast-growing number of regulated stablecoins and CBDCs to enable seamless connectivity between any business IT system and regulated digital currencies. The network was developed with contributions from global IT engineering and solutions provider GFT, decentralised cloud infrastructure company Red Date Technology, and tier-one financial service providers. The UDPN Alliance is currently running a series of 12 PoCs with multiple global banks, technology companies, and payment service providers that allow participants to explore different use cases and scenarios. For more information about UDPN, please visit: About GFT – Shaping the future of digital business GFT is a digital transformation pioneer. By leveraging next-generation technologies, we enable clients to boost their productivity with intelligent software solutions. We focus on Digital Finance, Enterprise AI Data Solutions, and Platform Modernisation. GFT's strengths include deep technological excellence, a strong ecosystem of partners, and industry expertise. We are agile@scale and boost digital transformation for clients from the finance and insurance sectors, as well as the manufacturing industry. GFT talents create, implement, and manage software applications to enable innovative businesses while complying with regulations. With locations in 20 markets around the globe, GFT ensures proximity to its clients. We draw on over 35 years of experience and a global team of over 12,000 determined talents. GFT provides them with career opportunities in the most innovative areas of software engineering. The GFT Technologies SE share is listed in the SDAX index of the German Stock Exchange (ticker: GFT-XE). www.gft.com
13.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | GFT Technologies SE |
Schelmenwasenstraße 34 | |
70567 Stuttgart | |
Germany | |
Phone: | +49 (0)711/62042-0 |
Fax: | +49 (0)711/62042-301 |
E-mail: | [email protected] |
Internet: | www.gft.com |
ISIN: | DE0005800601 |
WKN: | 580060 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1856899 |
End of News | EQS News Service |
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1856899 13.03.2024 CET/CEST
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