Montran and eCurrency announce the very first CBDC solution fully integrated with a Central Bank's RTGS solution for central bank currency management

BY PR Newswire | ECONOMIC | 06/30/22 04:21 PM EDT

NEW YORK, June 30, 2022 /PRNewswire/ -- Montran?Corporation?and?eCurrency?Mint?announced?today the successful integration of?Montran's?Real Time Gross Settlement (RTGS) with eCurrency's Central Bank Digital Currency (CBDC)?platform.?As a result,?CBDC?is?seamlessly interfaced with central bank currency management payment operations.?The first implementation is the Bank of Jamaica which currently has Montran's RTGS deployed for final settlement in Jamaican Dollars and is in the process of a national rollout of the eCurrency solution to provide Jamaica's Central Bank Digital Currency, Jam-Dex.

eCurrency Mint Limited Logo (PRNewsfoto/eCurrency Mint Limited)

This comprehensive solution automates the process in which participants order CBDC and settle the order in the RTGS

CBDC is issued under a well-defined set of governance, security and management processes similar to the issuance and distribution of today's notes and coins. CBDC?must?seamlessly interface with?the central banking?systems?used?for the payment and settlement of?currency issued and redeemed to/from?intermediary banks?responsible for the distribution of digital currency to the public.?The RTGS is the settlement and clearing infrastructure provided by the Central Bank. RTGS serves as a core function of the Central Bank and remains critical to the implementation of monetary and financial stability policies.

The collaboration?between Montran and?eCurrency?provides Central Banks with the same level of control and efficiency on CBDC issuance and redemption?as?notes and coins.?This comprehensive?solution?automates the process in which?participants order CBDC and settle the order in the RTGS system,?similar to?the processes?used for?physical currency, with the added efficiency of digital currency.?The?solution?is open and caters to standard messaging formats. It is?also?fully?configurable?to?meet?different?country?requirements and?environments.

"This is a groundbreaking development by our two companies and is the first CBDC implementation to achieve this level of integration and interoperability. We are excited to be working with eCurrency to continue to innovate with CBDC and enable instant payments with Montran's ISO20022?compliant?Instant Payments Solution," said Charles Walsh, Executive Vice President,?Montran. "This is fully in line with Montran's overall strategy to extend and expand our existing strategic partnerships with our Central Bank clients in?the?Caribbean?and around the world".

eCurrency?is a?pioneer?in?Central Bank Digital Currency.?It is?the world's first true retail CBDC solution enabling Central Banks to?mint,?issue, circulate and redeem?CBDC as?secure?digital bearer instruments.?CBDC?is?issued as?legal tender?and?distributed?through existing banking and fintech ecosystems.?"We?are?delighted to form this partnership with?Montran to provide a comprehensive?solution?for our central bank clients?as they?deploy?and distribute?CBDC?in their national?ecosystem", said Jonathan?Dharmapalan,?eCurrency?CEO.

Montran Corporation?is the world leader in providing comprehensive ISO20022 compliant Payment Market Infrastructure Solutions in over 70 countries.?This includes?complete national payment ecosystems for the?clearing and?settlement of wholesale, retail and instant payments for Central Banks, Central Clearing Institutions and Payment System Operators.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/montran-and-ecurrency-announce-the-very-first-cbdc-solution-fully-integrated-with-a-central-banks-rtgs-solution-for-central-bank-currency-management-301579179.html

SOURCE eCurrency Mint Inc.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article