LAUNCH | EMTECH Launches CBDC Innovation Kit for Fintech Companies After a Successful Bank of Ghana Collaboration

EMTECH, a software solutions company targeting central banks, recently launched its Central Bank Digital Currency (CBDC) Innovation Kit, which is now publicly available.

This innovation kit is specifically designed to cater to fintechs and financial service providers who seek to explore and test new fintech solutions and business models that involve Central Bank Digital Currency.

In 2022, the Bank of Ghana (BoG) announced the launch of its regulatory and innovation sandbox, developed in collaboration with EMTECH Solutions. BoG indicated that the sandbox will serve as an enabling framework for small-scale, live testing of innovations by innovators.

With over 10 trillion of paper cash in circulation and over 93% of central banks exploring and piloting CBDCs, introducing a digital version of cash, the CBDC Innovation Kit provides fintechs a set of tools with which to begin their discovery of the possibilities of a digital cash infrastructure, Emtech CEO, Carmelle Cadet, said.

EMTECH employs Hedera Hashgraph, a public distributed ledger technology, as its layer 1 protocol. It also utilizes the ERC-20 standard for its token, known as ‘Beyond Cash,’ described as a simulated currency utilized specifically for fintech innovation projects within their ecosystems.