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INX, SICPA partner to help governments develop digital currency ecosystems

The collaboration will create a joint venture to develop blockchain-based CBDC solutions that support monetary sovereignty

Illustration. BIGSTOCK/Copyright:TiermeyMJ
Illustration. BIGSTOCK/Copyright:TiermeyMJ

The INX Digital Company, a cryptocurrency and digital security trading platform founded in Israel, announced that it has entered into a strategic partnership with secure traceability solutions company SIPCA, to help governments develop innovative and sovereign central bank digital currency ecosystems.

The joint venture, incorporated in Switzerland, combines both blockchain-based infrastructure and digital cash technologies to address the key requirements for Central Bank Digital Currencies, including privacy, security, financial inclusion, resilience and more.

Through this partnerships, the companies hope to pave the way for the development and launch of a secure and scalable environment for all central banks to deploy digital currencies.

“With more than 80% of the world's central banks already considering launching a Central Bank Digital Currency, it's critical now more than ever to provide a viable path to capitalize on the wealth of opportunities digital currencies offer,” said Itai Avneri, deputy CEO of INX.

“We are excited to collaborate with SICPA and put our unique holistic solution for wholesale and retail CBDC to work as we strive together to pioneer the new digital economy around the world.”

INX’s team of CBDC and blockchain technologists will work with SICPA’s digital team to establish solutions for CBDCs and the supporting ecosystems to assist clients in bolstering monetary sovereignty.

Itai Avneri, deputy CEO of INX. Photo credit: Hadar Yoavian
Itai Avneri, deputy CEO of INX. Photo credit: Hadar Yoavian

The combined team will raise the bar in delivering innovative approaches to key requirements issued by central banks and their ecosystems, like compliance, scalability, cross-border transactions and programmability.

Many of the complex and advanced security features developed by SICPA will find application in the development of the CBDC ecosystem.

“In any solution we offer to our customers and partners, we are committed to ensuring that it is efficient, inclusive, secure and enables trustworthy and privacy-compliant transactions” said Philippe Amon, CEO and Chairman of SICPA.

“By collaborating with INX through this joint venture, we are ensuring that these cardinal virtues of cash will be equally true for the CBDC solutions that will complement the range of monetary solutions available to central banks.”

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