INX and SICPA Sign MoU to Establish a Joint Venture to Develop Innovative CBDC Ecosystem

The INX Digital Company, Inc. ("INX" or the "Company"), a broker-dealer, inter-dealer broker, and owner of a digital asset trading platform, announced recently that it has signed a non-binding memorandum of understanding ("MOU") with SICPA, a global Swiss company, leading provider of security inks and identification, traceability and authentication technologies, to help governments digitize their monetary systems.

The Company believes that today, more than ever, governments and central banks around the globe are searching for a path to capitalize on digital currencies. This announcement between INX and SICPA will pave the way for the development of a new, holistic solution for all stakeholders to utilize digital currencies in a secure, scalable environment.

Fazzaco to Launch Business Awards 2022​

The planned joint venture with SICPA is an integral part of INX's vision to innovate the future of finance and pioneer the new digital economy. Under the terms of the MOU, the Company will work with SICPA to establish a blockchain solution for Central Bank Digital Currency (CBDC) and the supporting ecosystem to assist clients in bolstering monetary sovereignty and efficiently growing overall country GDP. The two companies plan to expand interoperability between different stakeholders across borders through this joint venture.

Through the joint venture, many complex and advanced security features developed by SICPA will find applications in the development of a CBDC ecosystem.

The planned joint venture between INX and SICPA aims to allow governments to expand their access to payments infrastructure, facilitate cross-border payments, maintain sovereign currency control through rigorous regulation, and introduce privacy and safety measures.

"We believe that the unique form of CBDC we are working toward is an ecosystem and not only a tech solution," says INX's Deputy CEO and COO, Itai Avneri. "Along with SICPA, our distinguished partner, we harness the power of blockchain (trust, efficiency, cross-border, programmability, compliance, traceability and more) to cultivate a holistic solution that addresses the key requirements for CBDC, which include privacy-preserving, security, financial inclusion, resilience, and more."