INX and SICPA have formed a joint venture to help governments and central banks develop innovative and sovereign CBDC (Central Bank Digital Currencies) ecosystems.
INX provides the first-ever SEC-regulated digital asset trading platform for both cryptocurrencies and security tokens. With the combination of traditional markets expertise and a disruptive fintech approach, INX provides state-of-the-art solutions to modern financial problems. INX is led by an experienced and dedicated team of business, finance, and technology veterans with the shared vision of redefining the world of capital markets via blockchain technology and innovative regulatory approach.
Switzerland-based SICPA is market leader in security inks and leading provider of secured authentication, identification, traceability and supply chain solutions.
Founded in Lausanne in 1927, SICPA is a long-trusted partner to governments and central banks across the globe. Every day, governments, companies and millions of citizens rely on its expertise, which combines material-based covert features and digital technologies, to protect the integrity and value of their currency, personal identity, value documents, e-government services, as well as products and brands. SICPA has a global presence and employs about 3000 people.
The joint venture between INX and SICPA, incorporated in Switzerland, combines both blockchain-based infrastructure and digital cash technologies to address the key requirements for CBDC, including privacy, security, financial inclusion, resilience and more – paving the way for the development and launch of a secure and scalable environment for all central banks to deploy digital currencies.
Itai Avneri, deputy CEO of INX, said: “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.”
“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,” Itai added.
INX said in a press statement shared with AlexaBlockchain that INX 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 and efficiently growing the overall country GDP.
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.
Philippe Amon, CEO and Chairman of SICPA, said: “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.”
“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,” Philippe added.
Due to SICPA’s in-depth understanding of the ecosystem surrounding physical currency, new, cutting-edge forgery-proof security measures can be developed to safeguard monetary sovereignty.