Giesecke+Devrient invests in startup FNA for digital currency simulations

Tuesday 13 July 2021 12:52 CET | News

Giesecke+Devrient (G+D)’ s corporate venture capital arm has invested in UK-based FNA (Financial Network Analytics), a deep technology firm specialising in advanced network analytics and simulations.

Existing investors IQ Capital and GettyLab have also further invested in this new funding round. The global security technology group’s recent investment in FNA is part of a strategic funding round and expands on an existing partnership for the development and rollout of a CBDC simulation solution.

The partnership focuses on building the future of money, by developing software enabling the world’s central banks to test and model the impact of introducing a central bank digital currency (CBDC) on the financial and economic system.

Central banks, many having experimented with distributed ledger technology (DLT), will now be able to deploy simulation technology to fully test and understand the economic, liquidity, and financial stability implications of introducing a CBDC.

FNA and its team have been building simulators for payment systems and networks since 2014. Its technology has enabled Financial Market Infrastructures (FMIs), financial institutions, central banks and national security organisations to map and monitor complex financial networks, optimise liquidity and simulate operational and financial risks.

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Keywords: CBDC, blockchain, DLT, payment processor, central bank
Categories: DeFi & Crypto & Web3
Countries: Europe
This article is part of category

DeFi & Crypto & Web3

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