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NYSE-listed financial technology company FIS recently announced Launch of a new central infrastructure payment solution to facilitate payment system transformation by central banks around the world.
Details shared by the fintech firm show that it plans to foster a global central bank digital currency (CBDC) ecosystem. FIS has introduced a CBDC Virtual Lab that allows countries to experiment, pilot and accelerate his CBDC implementation.
Global demand for instant payments has increased significantly over the past few years. More than 70% of her global population will soon have access to instant payments, according to a recent report. FIS’s RealNet Central aims to facilitate the international adoption of real-time payments.
The global economy is rapidly moving to a digital-first mindset and methods. The idea of making payments in real time may sound simple, but the reality of delivering on that promise is daunting, especially across borders. When we do it, it’s very sophisticated,” said Aman Cheema, Head of Global Real-Time Payments and CBDC at FIS. Our latest offering is about to change that, bringing consumers, businesses, financial institutions and governments closer together in the payments ecosystem. It is the latest evidence of FIS’ commitment to investing in innovative technologies and solutions.”
Central banks around the world are ramping up their efforts to develop and implement CBDCs as the demand for cryptocurrencies grows. Earlier this year, the Bank of Korea completed the first phase of his CBDC test. In 2021, the central bank of Bhutan announced a partnership with Ripple to phase out a central bank digital currency using the company’s CBDC solution.
The CBDC Virtual Lab will allow central banks, commercial banks and other financial participants to experiment and explore core concepts of issuance, remittance, redemption, offline payments, programmable payments, retail, wholesale and cross-border payments. You can pilot it.FIS’s CBDC Virtual Lab is an enterprise-grade technology that supports over one million transactions per second with sub-second latency,” FIS added.
NYSE-listed financial technology company FIS recently announced Launch of a new central infrastructure payment solution to facilitate payment system transformation by central banks around the world.
Details shared by the fintech firm show that it plans to foster a global central bank digital currency (CBDC) ecosystem. FIS has introduced a CBDC Virtual Lab that allows countries to experiment, pilot and accelerate his CBDC implementation.
Global demand for instant payments has increased significantly over the past few years. More than 70% of her global population will soon have access to instant payments, according to a recent report. FIS’s RealNet Central aims to facilitate the international adoption of real-time payments.
The global economy is rapidly moving to a digital-first mindset and methods. The idea of making payments in real time may sound simple, but the reality of delivering on that promise is daunting, especially across borders. When we do it, it’s very sophisticated,” said Aman Cheema, Head of Global Real-Time Payments and CBDC at FIS. Our latest offering is about to change that, bringing consumers, businesses, financial institutions and governments closer together in the payments ecosystem. It is the latest evidence of FIS’ commitment to investing in innovative technologies and solutions.”
Central banks around the world are ramping up their efforts to develop and implement CBDCs as the demand for cryptocurrencies grows. Earlier this year, the Bank of Korea completed the first phase of his CBDC test. In 2021, the central bank of Bhutan announced a partnership with Ripple to phase out a central bank digital currency using the company’s CBDC solution.
The CBDC Virtual Lab will allow central banks, commercial banks and other financial participants to experiment and explore core concepts of issuance, remittance, redemption, offline payments, programmable payments, retail, wholesale and cross-border payments. You can pilot it.FIS’s CBDC Virtual Lab is an enterprise-grade technology that supports over one million transactions per second with sub-second latency,” FIS added.
