What Fintechs Should Know About Central Bank Digital Currencies

As cryptocurrencies regularly make headlines, the question of what is and isn’t money is coming to the fore. Governments worldwide are investing heavily in Central Bank Digital Currencies to maintain the public’s trust in money in the digital age. CBDCs promise the stability and integrity of fiat money in a convenient, secure digital form. Can they deliver on this promise?

With 18 of the G20 countries far along in developing their own CBDCs, commercial banks and non-bank fintechs can no longer ignore the disruption that is on the horizon. The adoption of CBDCs will bring both opportunities and competition to established and digital-native payment players. OpenWay’s report will shed light on the role fintechs might play in this emerging financial ecosystem, and answer some key questions:

• What are CBDCs, and why are governments are rushing to roll them out?
• Why are CBDCs, cryptocurrency, and blockchain often mentioned together?
• How are fintechs and commercial banks already involved in CBDCs?
• What will multi-CBDC platforms mean for cross-border transactions?

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OpenWay is the only best-in-class provider of digital payment software solutions, and the best cloud payment systems provider rated by Gartner, Omdia, Aite, and PayTech. Our Way4 platform is used by Tier 1 and 2 banks and processors, as well as ambitious fintech start-ups. Way4 innovations ensure their success in card issuing, A2A payments, e-commerce and POS acquiring, digital wallets and payment switching.