CBDC solutions provider EMTECH has been selected as one of four technical vendors participating in The Digital Dollar Project’s (DDP) Technical Sandbox Programme.
The company will contribute to the programme with its API-based and energy efficient central bank digital currency (CBDC) platform to test use cases of a digital dollar for cross-border payments.
The DDP’s new sandbox programme was launched last month to serve as a collaborative space for public and private sector players to identify and test use cases and gather data on business-level impacts.
The other three vendors selected for the inaugural programme are Digital Asset, Knox Networks, and Ripple.
EMTECH is a New York-based company founded in 2019 that focuses on building infrastructure for central banks. The company was recently selected by the Bank of Ghana to modernise its regulatory review process and reporting capabilities.
“It’s exciting to be part of the Digital Dollar Project Sandbox and we are looking forward to collaborating with the federal government, policymakers, and private sector organisations to pilot CBDC options that encompass retail or wholesale models for cross-border payment use cases,”
said Carmelle Cadet, CEO at EMTECH.
“The current ecosystem for cross-border payments is a complex nightmare for financial service providers to navigate. EMTECH’s CBDC platform is a more modern design that we’re excited to bring to the programme,”
said Tabor Wells, Chief Technology Officer at EMTECH.