FinTech news in CBDCs category

The kingdom of Eswatini is considering the introduction of a central bank digital currency (CBDC), joining the growing list of African countries exploring the viability of an e-currency. The Central Bank of Eswatini (CBE) said it has appointed German technology group Giesecke+Devrient (G+D) to research and explore the possibilities of a digital Lilangeni (the country currency) to complement banknotes. The CBDC project will involve a design concept and other considerations such as governance, accessibility, interoperability, security and programmability of the potential digital currency. Kenya, Namibia, Tanzania, Uganda and Zambia are some of the other African countries eyeing digital currencies to enhance their access to financial services, cost reductions, interoperability and enhanced cross-border payments.

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. It is this missing connection that Emtech, a central bank digital infrastructure provider, is looking to fill through its digital regulatory platform, which aims to fast-track the reach of fintech products to market.