The financial market infrastructure in emerging markets is not always able to support all citizens. Worldwide, there are 1.7 billion adults who are unbanked, causing a problem in need of an immediate solution to prevent economic inequities. We believe Central Bank Digital Currencies (CBDC) could offer central banks more favorable economics and control versus a private coin, which is why we’re excited about EMTECH which is bringing innovation to central banking.
EMTECH is rolling out its new Modern Central Bank Sandbox, which will help to streamline regulatory reviews and test central bank digital currencies (CBDCs), a press release says. The platform will also help central banks that want to collaborate with innovators on new technology. The Modern Central Bank Sandbox, according to the release, will help smooth out challenges in banking with things like "exclusion, KYC, SME lending, cross-border payments, AML/fraud," and will also enable them to innovate safely with effective oversight and quicker time to market.