News Summary

• 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.