EQS-News

GFT Technologies SE: UDPN launches All-in-One Digital Currency Sandbox

EQS-News: GFT Technologies SE / Key word(s): Product Launch/Miscellaneous GFT Technologies SE: UDPN launches All-in-One Digital Currency Sandbox 13.03.2024 / 10:51 CET/CEST The issuer is solely responsible for the content of this announcement. UDPN launches All-in-One Digital Currency Sandbox Supports Central Banks and Commercial Banks to Innovate and Test Digital Currencies in a Real Environment

Singapore/Stuttgart 13 March 2024. Over 130 countries globally are currently investigating, developing, or have already launched CBDCs. Financial innovation is not limited to central banks. Citigroup’s launch of Citi Token Services and Societé Generale’s December 2023 announcement of their bank-issued stablecoin are the most recent examples of how traditional financial institutions are making digital assets an essential part of their service offerings to their clients.

The Universal Digital Payments Network (UDPN)’s new All-in-One Digital Currency Sandbox, launched on 29^th February, enables both commercial and central banks to learn about the latest digital currency technology, test built-in use cases, and develop their own new custom use cases. The Sandbox will help financial institutions prepare for the new digital financial world and build innovative new services. It was built based on the insights from the UDPN team’s work over the past year with over 25 global commercial banks, central banks, and technology companies.

The financial infrastructure of tomorrow

Marika Lulay, GFT's CEO, declared, “With the All-in-One Digital Currency Sandbox, we are making a significant leap in digital currency deployment. Banks receive a robust arena for innovation and partnership.” She noted, “Our dive into diverse digital currency technologies marks a shift from mere exploration to crafting tomorrow's financial infrastructure. For GFT, UDPN has great strategic significance, as it will, in the long run, unlock new revenue streams for GFT and further diversify our business model.”