GFT Technologies SE / DE0005800601
13.03.2024 - 10:51:36GFT Technologies SE: UDPN launches All-in-One Digital Currency Sandbox
| GFT Technologies SE / Key word(s): Product Launch/Miscellaneous 13.03.2024 / 10:51 CET/CEST The issuer is solely responsible for the content of this announcement. UDPN launches All-in-One Digital Currency Sandbox Supports Central Banks and Commercial Banks to Innovate and Test Digital Currencies in a Real Environment 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. UDPN Commercial All-in-One Digital Currency Sandbox The All-in-One Digital Currency Sandbox enables commercial and central banks to learn about the latest digital currency technology, test built-in use cases, and develop their own custom use cases. Download illustration This press release is also available for download via the GFT newsroom Learn more! 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
www.blog.gft.com www.linkedin.com/company/gft-technologies www.twitter.com/gft_tech 13.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| 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: | ir@gft.com |
| 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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