Define the paradigm shift across the payments landscape
By playing a pivotal role in furthering the development and use of central bank digital currencies (CBDCs) as a secure and reliable payments instrument–central banks can not only capitalize on their benefits, but ensure they maintain monetary policy and financial stability in their region.
A more resilient financial system
Rewrite the future of money with CBDCs
Today, individuals and institutions primarily settle payments in bank deposits, placing a high concentration of liquidity and credit risk in both payment systems and the world’s largest banks. Central bank digital currencies (CBDC) can deliver a more efficient, faster and safer financial system by providing another alternative to cash and bank deposits.
PRIMARY CBDC DISTRIBUTIONS
Transform the payments landscape
A wholesale CBDC can serve as a risk-free settlement cash asset in high-value payments systems and on digital financial markets infrastructures. It can automate processes with smart contract capabilities and direct transit between commercial banks without intermediaries.
A general purpose CBDC for retail applications enables person-to-person transfers with instantaneous settlement. They are particularly valuable for emerging economies as they broaden access to financial services.
Settling cross-border payments using CBDCs can avoid delays and costs associated with processing through a correspondent banking network.
A token-based CBDC can be designed for use in areas with limited internet access to allow people to access a medium of exchange and basic financial services regardless of geolocation.
LEADER IN DIGITAL CURRENCIES
R3 has been at the forefront of CBDC innovation since 2016
Project Dunbar–using CBDCs for international settlements
Project Dunbar is just one of the many projects R3 has participated in over the years. It brought together the Reserve Bank of Australia, Bank Negara Malaysia, Monetary Authority of Singapore, and South African Reserve Bank with the Bank for International Settlements Innovation Hub to test the use of CBDCs for international settlements.
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.