June 27, 2022

Bitt and IDEMIA announced as Finalists in Global CBDC Competition

Pin It

20 June 2022, Salt Lake City, Utah, USA — Bitt and IDEMIA have been selected by the Bank for International Settlements (BIS) and Bank Indonesia as a joint finalist in the international CBDC competition, G20 TechSprint 2022.

This third annual G20 TechSprint welcomes the best from the world of fintech, science, business, and marketing to submit their innovations to propel the industry of wholesale and retail CBDCs.

The world’s central banks and regulators have identified financial inclusion; connectivity and interoperability; and issuance, distribution and transference as the most critical challenges and opportunities for CBDCs.

Bitt and IDEMIA’s proposed solution combine the world’s leading CBDC system, Bitt’s Digital Currency Management System (DCMS), with IDEMIA’s state-of-the-art offline payment instrument. It highlights their combined commitment to enabling the digitization of economies by providing inclusive, easy, convenient, and affordable digital payment technologies, while supporting existing financial infrastructure and regulatory frameworks. The offering can bring retail CBDC to everyone, including the unbanked and those without connectivity.

Brian Popelka, CEO of Bitt, said, “Bitt is proud to be recognized for the innovation and integrity of our Digital Currency Management System and even more excited to highlight its interoperability through our partnership with IDEMIA in this global competition.”

Jerome Ajdenbaum, VP Digital Currencies and Fintech at IDEMIA commented, “We have designed this solution with the public interest in mind and we believe it will help central banks, commercial banks and fintechs deploy their digital currencies on a large scale. With 86% of central banks working on projects, we believe that CBDCs represent the future of money, and the joint IDEMIA and Bitt expertise on that sector can help it grow throughout the world.”

Bitt and IDEMIA, along with the other finalists, will make their final submissions by August 31st. The judging panel will announce the winners on October 14th.

About Bitt
Bitt is a financial technology company that provides digital currency solutions to central banks, financial institutions, and ecosystem participants worldwide. With a team of over 80 globally dispersed professionals, Bitt is a leader in the CBDC industry with subject matter experts at the intersection of technology and policy. Bitt specializes in the development, customization, and integration of secure financial technology solutions, including digital currency infrastructure and management applications

For more information about Bitt, please visit www.bitt.com and follow us on LinkedIn at https://www.linkedin.com/company/bittglobal/

As the leader in identity technologies, IDEMIA is on a mission to unlock the world and make it safer. Backed by cutting-edge R&D, IDEMIA provides unique technologies, underpinned by long-standing expertise in biometrics, cryptography, data analytics, systems and smart devices. IDEMIA offers its public and private customers payment, connectivity, access control, travel, identity and public security solutions. Every day, around the world, IDEMIA secures billions of interactions in the physical and digital worlds. With nearly 15,000 employees, IDEMIA is trusted by over 600 governmental organizations and more than 2,300 enterprises spread over 180 countries, with an impactful, ethical and socially responsible approach.

For more information, visit www.idemia.com

Print Friendly, PDF & Email
About ieyenews

Speak Your Mind