R3 is excited to announce that we are a technology partner for the Global CBDC Challenge recently launched by the Monetary Authority of Singapore (MAS) for retail Central Bank Digital Currency (CBDC) solutions. The challenge is looking for financial institutions, FinTechs, and solution providers worldwide to create innovative retail CBDC solutions that enhance payment efficiencies and promote financial inclusion. Finalists of the Challenge will have the chance to pitch their solutions to the global audience at the Demo Day to be held at this year’s Singapore FinTech Festival in November. Up to three winners will be selected to receive S$150,000 in cash prizes.
As a partner, the R3 Sandbox for Digital Currencies has been integrated into the APIX platform alongside accompanying APIs. This enables easy participation in the challenge using our market-leading platform for CBDC experimentation.
What is the R3 Sandbox for Digital Currencies?
R3 Sandbox for Digital Currencies is a development platform for CBDC experimentation that is already being used by global financial institutions and regulatory bodies.
It allows central banks, commercial banks, exchanges, payment providers and more to work together in a ‘ready-made payments ecosystem’ to assess CBDC use cases, learn, transact, and test roll-out strategies and designs.
Managed by R3 and powered by Corda, the sandbox is underpinned by the most scalable and regulatory friendly DLT platform on the market.
Why use the R3 Sandbox for Digital Currencies for the Global CBDC Challenge?
Resources to help you get started
Corda in action for CBDC
Submit your application for the Global CBDC Challenge by July 23 2021!
Contact us to learn more about the Sandbox for Digital Currencies or request a demo.
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