Financial Institutions
Central banks around the world are now contemplating the imperative of rolling-out legal tender digital currencies.
From considering the feasibility of a central bank digital currency (CBDC) system launch to developing policies and governance standards, the challenges involved in this process are significant. However, as this remains largely uncharted territory, ready answers and solutions are not always apparent.
KornX provides the solutions and answers you need. We have designed our technology solutions to function as a secure and robust infrastructure platform for every aspect of digital currency launch and operationalization.
To build an ecosystem for all stakeholders, you will need the below features:
Within the coming decade, central bank digital currencies (CBDCs) will roll-out across virtually every developed nation in the world. Financial institutions must prepare now, in order to be ready when the time comes.
Begin by integrating digital currency transaction and processing capabilities into your legacy systems or by launching new technology platforms to accommodate stakeholders.
To handle digital currencies under license, you must implement technology solutions that are acceptable to regulators and compliant with all applicable governance requirements. Since this is often unfamiliar and uncharted territory, having an experienced fintech solutions partner on your side is critical.
Our digital currency experts can assist you with all of your needs for CBDC solutions. Talk to us about CBDC workshops, pilot programs, deployment and systems management. Our innovative CBDC Sandbox provides financial institutions with an invaluable opportunity to see our Digital Currency Management System (DCMS) network in action and to put it to the test under a variety of scenarios.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
Integrations
The DCMS can integrate with existing financial infrastructure, including RTGS and ACH networks, core banking systems, as well as existing payment processing platforms including bill payment, airtime and top-up, remittance, and more.
Just like traditional currency ecosystems, CBDC systems require multiple elements to function correctly. At the core of the system’s infrastructure, is the need for a ledger, governing rules and processing functions. Systems require appropriate safeguards and redundancies to ensure that it is resilient in the face of security risks and technical failure.
To ensure equitable financial inclusion, systems must be simple to access and operate. CBDC systems must also inspire trust and provide users with a sense of privacy and security. Features must be highly efficient and sufficiently robust, so as to offer a wide range of financial services.
Finally, processing functions must effectively interface with those of merchants, end-users and other participants. This interoperability must ensure the prompt and reliable flow of funds throughout the domestic and international payment ecosystems.
Compatibilities
- KornX Architecture meets the ITU and Stanford University CBDC standards.
- DCMS can integrate with payment networks who support the ISO 20022 messaging standards.
- DCMS can integrate with both blockchain-based and traditional transaction networks.
Features
Within the coming decade, central bank digital currencies (CBDCs) will roll-out across virtually every developed nation in the world. Financial institutions must prepare now, in order to be ready when the time comes.
Begin by integrating digital currency transaction and processing capabilities into your legacy systems or by launching new technology platforms to accommodate stakeholders.
To handle digital currencies under license, you must implement technology solutions that are acceptable to regulators and compliant with all applicable governance requirements. Since this is often unfamiliar and uncharted territory, having an experienced fintech solutions partner on your side is critical.
Our digital currency experts can assist you with all of your needs for CBDC solutions. Talk to us about CBDC workshops, pilot programs, deployment and systems management. Our innovative CBDC Sandbox provides financial institutions with an invaluable opportunity to see our Digital Currency Management System (DCMS) network in action and to put it to the test under a variety of scenarios.
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Digital Currency Manager
Securely issue, distribute, redeem, and destroy digital currency units in a fully auditable ecosystem.
Monitor transactional activity across defined periods using data settings including region, industry, and wallet type.
AML Compilance Module
Define deployment parameters for the digital currency including interest rate, allowable integrations, wallet types and associated limits, role-based permission settings, and more. Integrate with a variety of applications and other digital currency networks.
- High performance CBDC-standard transaction network; option for distributed nodes as delegated by central banks (dependent on transaction network chosen)
- Cloud deployed / containerized modules using Kubernetes
- Permissioned API structures for marketplace integrations
- Integration into third party custodians
- Extensive business logic (eg. transaction limits, wallet types/metadata, monitoring and reporting, security configurations, interest rates, integrations with other financial networks eg. foreign exchange, smart contract functionality)
KornX Vault
- Secure storage and transaction of digital currency and digital asset (private key management)
- Customized governance structures and customizable transaction types that require specific approval from defined stakeholders
- Hardware security modules
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Your CBDC Design, Development and Management Partner
With demonstrated experience and success in launching CBDC and stablecoin systems, KornX has the scalable and customizable technology solutions you need for today and in the future.
Our DCMS and Monetary Authority (MA) Suite includes a digital currency minting manager with a dedicated interface for minting central bank digital currencies and functions for the secure issue, distribution, redemption and destruction of CBDC. You will also have access to your own private, key-managed KornX Vault with customized governance structure and customizable transaction types.
We have designed our technology solutions to make CBDC deployment as safe, easy and affordable as possible. As a part of our overall central bank digital currency solutions, we can assist you through every phase of development, testing, rollout and beyond.
Contact us today to request your demonstration of KornX solution for central banks.
