Home Blockchain FIS is the latest payment company to launch CBDC Lab – Ledger Insights

FIS is the latest payment company to launch CBDC Lab – Ledger Insights

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FIS is the latest payment company to launch CBDC Lab – Ledger Insights













Yesterday FISthe banking industry solutions provider, has announced plans to help central banks launch central bank digital currencies (CBDCs) through its CBDC Virtual Lab, which is in collaboration with a digital payments startup M10 networks.

The lab will allow central banks, commercial banks, and payment companies to experiment with and pilot CBDC issuance, payments, programmable money, and offline payments. Its scope covers retail CBDCs, wholesale payments, and cross-border payments.

M10 claims that the platform can scale to over a million transactions per second with less than a second of latency.

The FIS is one of the 21 finalists of the G20 Tech Sprint hackathon for the CBDC.

He has been involved in the digital currency and blockchain industries for years. Recently, its subsidiary Worldpay announced that conventional businesses that use Worldpay to collect cards and other payments could receive these payments in the USDC stablecoin.

In 2019, FIS partnered with VISA to deploy its blockchain-based system VISA B2B Connection the solution. He also worked with a Polish startup billon for blockchain-based emoney solutions. And FIS and its subsidiary WorldPay have been engaged in cryptocurrencies since at least 2019 through involvements with The Crypto.org Blockchain as well as authorized public blockchains Hedera Hashgraph and Korea Klaytn.

Meanwhile, M10 was founded by the former CMO of open banking platform Token. It focuses on account-based payments and does not use blockchain.

Other major payment platforms offering CBDC offerings include MasterCard, Visaand PayPal.












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