The proposed joint venture, will lead the development of blockchain based technology solutions to create a central bank digital currency ecosystem to help governments digitize their monetary systems
The INX Digital Company, Inc. (“Company”), a broker-dealer, inter-dealer broker, and owner of a digital asset trading platform, announced today that it has signed a non-binding memorandum of understanding (“MOU”) with SICPA, a global Swiss company, leading provider of security inks and identification, traceability and authentication technologies, to help governments digitize their monetary systems.
The Company believes that today, more than ever, governments and central banks around the globe are searching for a path to capitalize on digital currencies. This announcement between INX and SICPA will pave the way for the development of a new, holistic solution for all stakeholders to utilize digital currencies in a secure, scalable environment.
The planned joint venture with SICPA is an integral part of INX’s vision to innovate the future of finance and pioneer the new digital economy. Under the terms of the MOU, the Company will work with SICPA to establish a blockchain solution for Central Bank Digital Currency (CBDC) and the supporting ecosystem to assist clients in bolstering monetary sovereignty and efficiently growing overall country GDP. The two companies plan to expand interoperability between different stakeholders across borders through this joint venture.
A longstanding trusted partner and advisor to central banks around the world, SICPA has robust expertise in identification and security solutions, strong digital capabilities, and extensive knowledge of the use of physical cash that allow for the development of new innovative forgery-proof security features to protect monetary sovereignty.
Through the joint venture, many complex and advanced security features developed by SICPA will find applications in the development of a CBDC ecosystem.
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