G+D wins Global Fast Track competition for digital central bank currencies
Giesecke+Devrient (G+D) has been named the winner of the Best Technology Award in the Hong Kong Monetary Authority's (HKMA) Global Fast Track CBDC 2022 competition. Through this initiative, Hong Kong's central bank honors innovative technology solutions for central bank digital currencies (CBDC).
The CBDC Track, jointly launched by the HKMA and InvestHK, the Hong Kong government's investment promotion agency, aims to further expand the CBDC ecosystem. Banks, fintechs and technology companies from around the world were able to showcase their solutions to address at least one of the following eight focus areas: retail or wholesale CBDC adoption, programmable money, interoperability, privacy, cybersecurity, foreign exchange and liquidity management, as well as offline payments.
G+D's award-winning Filia® solution emerged as a winner in the Global Fast Track CBDC 2022. A token-based retail CBDC, G+D Filia® resembles cash and is equipped with smart features - combining the benefits of cash with the needs of users in an increasingly digitized world. G+D Filia® was designed from the outset to enable continuous offline payments and can be used via smartphones, smart cards and other forms of digital and hardware wallets without requiring a bank account, network connection, disclosure of private data or fees to the consumer. As an award winner, G+D will now have the opportunity to work with the HKMA on research and pilot projects to support the future growth of the CBDC ecosystem.
In recent years, Hong Kong has been a leader in international collaboration and research on wholesale and retail CBDCs and has actively encouraged their development. The launch of the CBDC Track demonstrates the HKMA's commitment to supporting the growth of the sector, promoting industry engagement and leveraging new technologies to improve the financial system.
"We are sincerely honored that G+D Filia® has been recognized as an innovative CBDC solution," comments Dr. Wolfram Seidemann, CEO of G+D Currency Technology. "This accolade cements G+D´s position among global players and further strengthens our commitment to supporting central banks to deliver on their mandate to issue a safe and universal digital form of central bank money – a CBDC that can be used independently, while guaranteeing far-reaching benefits for businesses and the general public.”
Giesecke+Devrient (G+D) is a global security technology group headquartered in Munich, Germany. As a reliable partner for international customers with the highest standards, G+D's solutions safeguard the essential values of this world. The company develops customized technology with passion and precision in four core areas: Payment, Connectivity, Identities and Digital Infrastructures.
G+D was founded in 1852. In fiscal 2021, the company generated sales of 2.38 billion euros with around 11,800 employees. G+D is represented by 89 subsidiaries and joint ventures in 33 countries. Further information: www.gi-de.com.