AFIN, R3 partner for CBDC testing | Asian Banking & Finance - The Latest News, Headlines, Insight, Commentary & Analysis
,APAC
9 views

AFIN, R3 partner for CBDC testing

AFIN will launch a new digital currency sandbox in APIX.

The ASEAN Financial Network (AFIN) has partnered with global enterprise software firm R3 to allow banks and fintechs to build and test central bank digital currency (CBDC) applications.

This collaboration will provide financial institutions and fintechs on APIX with tools to build CBDC applications for new payment rails and multi-currency payment systems, the announcement read.

AFIN will launch a new digital currency sandbox in APIX, and R3 will be the first partner organisation to provide APIs for building applications using digital currencies. 

Select APIs of R3 Sandbox for Digital Currencies, a learning and development platform for CBDC experimentation used by global financial institutions and regulatory bodies, will be listed on the API Exchange (APIX) from August 2021. 

In addition, developers can create and edit code, integrating R3's APIs and others across different solution domains in APIX's marketplace through the cloud-based integrated development environment (IDE).  

Get Asian Banking & Finance - The Latest News, Headlines, Insight, Commentary & Analysis in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Banks have to remain consistent and continuous in testing best practices.
Shares were priced at the top end, at KRW39,000 ($34).
In January, 1.2 million transactions were carried out via the SGQR.
Its launch will require legal changes to the nation’s foreign exchange and IT rules.
But less than half of consumers are impressed with the digital financial services currently offered.
Treasury teams can mobilize liquidity and fund intraday payments in real-time.
Customers have the option to pay their tax balances in full or partially.
About 750 new accounts have been opened in four APAC markets through the new portal.
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
SmartStream’s Peter Hainz and Amazon Web Services’ Anna Green shared their insights on the advantages of on-demand and highly scalable cloud environments for banks and other financial institutions, as well as the factors hindering its adoption in the region.
This August, the Asian Banking & Finance and SAP will provide insights on the evolving landscape for ESG in financial services.
Thirteen lenders noted that demand was moderately weaker than the preceding 3-month period.
Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.
It opens up new revenue models and lowers the cost-to-serve.