The finalists were whittled down from 300 applications and include a mixture of big banks, tech organisations already involved in CBDC initiatives, and a few new names.
Apart from prize money, finalists also gain access to the API Exchange (APIX) Digital Currency Sandbox for prototyping. The technologies in the sandbox include R3’s CBDC offering, Mastercard’s CBDC platform, the Partior Digital Currency from JP Morgan, DBS Bank and Temasek, and Mojaloop Real Time Payments.
In addition to Mastercard, Visa also has a presence as it partnered with ConsenSys to create a Visa Retail CBDC Payment module for the competition.
Four big banks, ANZ, Citibank Singapore, HSBC Singapore, and Standard Chartered, are amongst the finalists. Several technology providers made it to the finals, most of whom have significant CBDC proof of concept experience. They are Bitt (Eastern Caribbean), ConsenSys (MAS, Hong Kong, Thailand, South Africa, France, Australia), Giesecke+Devrient (Thailand, Ghana), IBM, and Soramitsu (Cambodia).
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