Digital Currency Accelerator
Fast track the issuance, management, and distribution of two primary types of digital currencies—CBDCs and stablecoins, a currency token backed by a fiat currency.
R3 Digital Currency Accelerator offers two types of accelerators–CBDCs and fiat-backed stablecoins. The Accelerator is underpinned by Corda —the leading open core DLT platform for regulated entities offering peer-to-peer privacy, scalability, and security and all CBDC “back chain” transaction history between entities can be kept private by leveraging Conclave, R3’s leading confidential computing platform.
Provides a suite of capabilities that map to wherever a central bank is on their CBDC journey. Market participants can start with simulation in an R3 managed sandbox, move to pilots and projects in their own environment, and eventually issue, distribute, and exchange a CBDC in production with a digital mint solution.
Features for every stage of the CBDC journey—from exploration to advanced building
- Enterprise Edition of Corda code, open sourced and ready for CBDC experimentation in a local environment by central banks.
- Wholesale and retail CBDC sample applications.
- Interoperability between Corda business networks, to public DLT networks as well as traditional RTGS systems that follow ISO 20022 standards.
- Tutorials to help assess how, where, and why CBDCs are relevant to a given jurisdiction.
- Digital Mint Solution for creating secure CBDC tokens and issuance workflows that integrate with core systems and integration frameworks. It enables programming of business rules into the CBDC and smart monitoring of money supply. Coming soon
Once issued, CBDCs can be distributed in a variety of ways:
- Wholesale CBDC: Serves as a risk-free settlement cash asset in high-value payments systems and on digital financial market infrastructures.
- Retail payments: A general purpose CBDC for retail applications enabling person-to-person transfers with instantaneous settlement. Offline payments are available for use in areas with limited internet access.
- Cross-border transactions: Transact and move value directly and seamlessly between entities and across borders, while reducing risk.
Fiat-backed Stablecoin Accelerator
There is rising interest in fiat-backed stablecoins from banks and financial market infrastructure providers as they can co-exist alongside CBDCs, while offering many of the same benefits.
The Fiat-backed Accelerator is an R3 developed CorDapp that fast tracks the issuance of a regulatory compliant, fiat-backed digital token that is pegged 1:1 with central bank reserves or commercial bank deposits. It can be deployed in the user’s own environment with easy integration into existing systems.
- An intuitive web application that provides the issuer with a consolidated view of all tokens issued as well as management of its lifecycle–deposits, transfers, and redemptions.
- Fiat-backed stablecoin object code and Corda SDK for cash tokenization.
- APIs that enable easy integration with other web-based systems, CorDapps or JVM-based applications to facilitate stablecoin issuance across other networks.
What the Fiat-backed Stablecoin Accelerator enables
- Digital Token Lifecycle Management: Tokens can be easily minted, transferred, and redeemed. For example, a bank can deposit assets in exchange for a token that is defined and created on the network. That ‘minted token’ can be transferred to an owner to pay for an asset on the network and redeemed by a custodian for fiat currency.
- Supports multiple token types: Expand your business offerings by adding multiple types of tokens pegged to variety of fiat currencies.
- Multi-custodian capabilities: Eliminate concentrated risk with a single custodian
- Attestation of membership: Business Network Operators (BNOs) provide governance and management of participation in the network. They have the ability to attest and reject members.
Connect with R3
R3 is here to support you at every stage of your digital currency journey–from experimentation to production. Our Professional Services team offers a variety of standard and custom SaaS offerings to kick start issuance and development.