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EMTECH is rolling out its new Modern Central Bank Sandbox, which will help to streamline regulatory reviews and test central bank digital currencies (CBDCs). The platform will also help central banks that want to collaborate with innovators on new technology, and enabling them to innovate safely with effective oversight and quicker time to market. EMTECH also aims to provide central banks with an infrastructure for digital cash. For example, EMTECH is currently working with the Central Bank of the Bahamas on its Digital Sand Dollar Currency.

"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 providers interested in experimenting with solutions and business models based on digital currencies pioneered by central banks."

The Bank of Ghana has launched a new regulatory and innovation sandbox to provide a controlled testing environment for new financial products and services, in partnership with US-based technology firm Emtech. Emtech has built cloud-based software specifically for central banks. It said the sandbox would allow financial firms to interact with the central bank to test digital financial products while evolving [an] enabling regulatory environment. The sandbox is open to banks, specialised deposit-taking institutions and payment service providers. https://www.bog.gov.gh/wp-content/uploads/2021/02/PRESS-RELEASE-BANK-OF-GHANA-SANDBOX-PILOT.pdf

"EMTECH, an award-winning software company modernizing central banking infrastructure for financial inclusion and resilience, with blockchain-based platforms, and Hedera Hashgraph, provider of the most used, sustainable, enterprise-grade public network for the decentralized economy, announced today a partnership to develop an enterprise-grade, highly performant, highly secure and energy efficient CBDC (Central Bank Digital Currency) infrastructure product."

EMTECH announced today the G.R.E.E.N. CBDC Framework to assist central banks in unlocking unprecedented value when deploying a Central Bank Digital Currency (CBDC).

In December 2023, EMTECH successfully delivered a CBDC Hackathon as a strategic pilot for the Bank of Ghana's e-Cedi project. After receiving 88 applications, the Bank of Ghana ultimately selected 10 participants who onboarded a dedicated hackathon platform, and received Institutional Wallets and 1,000 BYDC-eCedi tokens from the central bank to prototype various solutions. They were then granted access to pre-built BYDC-eCedi APIs which eased the technical integration, as well as standardized how and who can create wallets for end users or how to transact with the tokens. All transactions were performed using Hedera's token and public ledger services using an ERC-20 token standard. This delivered transparency in transactions, plus the benefit of protecting user information.

The Bank of Ghana concluded its first central bank digital currency (CBDC) hackathon. The event involved ten teams developing eCedi solutions deployed on Hedera's public DLT, using EMTECH's Beyond Cash digital currency solution. KPMG participated as a service provider on a pro bono basis, establishing the competition criteria and supervising the event. The hackathon participants included developers, banks and fintechs. https://www.bog.gov.gh/speeches/governors-opening-remarks-at-ecedi-hackathon-awards-dinner/

Carmelle Cadet, Founder and CEO of EMTECH, a modern central bank technology and services company, is a technology provider in the world's first live retail CBDC with the Central Bank of Bahamas called the Sand Dollar.

EMTECH-spearheaded Project New Dawn (PND) is a technical implementation of a retail central bank digital currency (CBDC) that runs on an Ethereum-based platform. PND is also working with the Hedera Hashgraph Network, to develop further understanding how to use interoperability to provide trust in the private sector part of the two-tiered CBDC network. https://futuremtech.com/central-bank-digital-cash/

Bank of Ghana (BoG) in collaboration with EMTECH has launched an eCedi hackathon, to provide opportunities for Fintechs, developers and innovators to design innovative solutions that explore various use cases of a central bank digital currency (CBDC). The event is set to run for 12 weeks, during which innovators will brainstorm to come up with solutions to address financial inclusion challenges in Ghana. The proposed innovations are expected to leverage eCedi tokens and APIs to prototype solutions or develop tools that address various use cases.

"Emtech's digital regulatory platform includes the innovator's center, which helps fintechs to prepare and test the requirements for multiple regulators and/or countries and test regulatory reporting APIs for pre-market technical integration, as well as the regulatory sandbox, a fintech launchpad based on regulator limits and the live reporting of data. The sandbox helps the regulatory authorities base their response to innovations on the outcomes of live experiments."

The National Bank of the Kyrgyz Republic (NBKR) has received proposals from twelve firms to develop and test a demo version of a digital som central bank digital currency (CBDC). The NBKR will select from Axellect, DCM, EMTECH, FIS, G+D Filia GmbH, Knox Networks, MONTRAN,Nahmii, Ltd, R3 Corda, SICPA/Nabatech, TCS Quartz, and Xiamen Strait Chain Technology. The selection criteria will focus on blockchain platform technology.