Vikram Pandit joins group of elite investors in closing eCurrency funding round

Tuesday 5 October 2021 09:42 CET | News

eCurrency Mint has closed a funding round with new investors including Pandit, the former CEO of Citi Group, according to discussions we had with company representatives.

Vikram Pandit joins a group of elite investors in closing eCurrency funding round as key milestones in the Jamaica CBDC project are reached. He joins a group of visionary investors on the company’s cap table. Current investors in eCurrency include Pierre Omidyar, Tom Steyer, and Ray Dalio through their respective venture and family offices - Flourish Ventures, Radicle Impact Fund, and the Dalio Family Office, the source added. 

eCurrency was recently awarded the Central Bank Digital Currency (CBDC) project by the Bank of Jamaica. The project is currently in the pilot stage and is expected to roll out nationwide in early 2022.  The Bank of Jamaica announced in August 2021 that it had minted JMD 230 million in digital currency using eCurrency’s technology.

eCurrency has pioneered a mature technology for CBDC issuance, distribution, and supervision, called DSC3 which is an efficient, secure, and scalable turnkey solution built to operate on existing banking and payment rails to meet Central Bank needs for retail, wholesale, and cross-border CBDC use cases, according to company’s representatives.

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Keywords: CBDC, funding, central bank, digital currency
Categories: Banking & Fintech
Countries: Jamaica
This article is part of category

Banking & Fintech