INX and SICPA Team Up for CBDC

SICPA and the INX Digital Company – the US-regulated broker-dealer, ATS, and transfer agent which offers the first-ever SEC-regulated digital asset trading platform for both cryptocurrencies and security tokens – have launched a new joint venture, Nabatech, to aid government and central bank construct sovereign digital asset ecosystems.

According to both companies, the Swiss-incorporated joint venture uniquely combines Decentralized Ledger Technology (DLT) infrastructure and digital identity technologies to fulfill critical CBDC requirements – from security and privacy to resilience and financial inclusion.

‘This initiative is set to propel the establishment and launch of a secure and scalable framework for central banks to execute digital strategies’, they said in a joint press release, adding that, with over 80% of the world’s central banks contemplating the introduction of CBDCs, the urgency to deliver a concrete strategy to tap into the immense potential of digital currencies is palpable.

INX’s specialised CBDC and blockchain technologists will join forces with SICPA’s digital team to create robust CBDC solutions, with both entities anticipating that they will set new industry benchmarks in catering to central bank mandates concerning privacy, oversight, scalability, inclusion, and programmability.

According to Phillipe Amon, CEO and Chairman of SICPA, ‘our commitment to every solution we present is grounded in ensuring efficiency, inclusivity, security, and fostering genuine and privacy-preserving transactions. By joining forces with INX in this venture, we remain steadfast in upholding these core principles for the CBDC solutions, enriching the spectrum of monetary tools accessible to central banks.’ 

INX and SICPA first announced their partnership in June 2022 (see CN July 2022), signing a Memorandum of Understanding that formed the basis for the new Nabatech joint venture.