Emtech to advance its regtech and CBDC stack solutions with $4M led by Matrix Partners India | TechCrunch
- Emtech believes this route will close the gap observed in the current system between fintech innovation and central banking oversight.“Our point of view has been consistent: enabling central banks to deploy their CBDC as a digital cash infrastructure safely.
- Similarly, the CBDC innovation kit will provide these fintechs access to a digital cash infrastructure that banks may imitate.Emtech’s simulated token “Beyond Cash (BYDC)” will be utilized for innovation initiatives, leveraging the Hedera Hashgraph as a layer 1 protocol and the ERC-20 (standard for tokenization).
- The kit caters to fintechs and financial service providers interested in experimenting with solutions and business models based on digital currencies pioneered by central banks.The New York-based business is today announcing a $4 million seed investment led by Matrix Partners India.
- We had to manage our cash flow and resources and grow our footprint across the region while delivering for the central banks, especially now that we’re on a journey of digitizing cash infrastructure for them.”Emtech also signed a collaboration deal with the West Africa Monetary Institute this June.
- Emtech, an African provider of central banking infrastructure, introduced its Central Bank Digital Currency (CBDC) Innovation kit last month.
- The regulatory sandbox enables regulatory bodies to respond to innovations based on live testing results.The four-year-old startup had hoped to work with at least 10 central banks by now.
Emtech, an African provider of central banking infrastructure, introduced its Central Bank Digital Currency (CBDC) Innovation kit last month. The kit caters to fintechs and financial service provider [+5786 chars]