Accenture invests in Emtech to strengthen CBDC, fintech solutions

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. About Emtech
  2. Services for central banks and fintechs
  3. Collaboration with Accenture


    4. Accenture announced its investment in fintech startup Emtech, which provides software-as-a-service to central banks and fintech companies. Emtech was founded in 2019 by former IBM Blockchain executive Carmelle Cadet and already collaborates with several central banks.

    About Emtech

    Emtech was founded in 2019 by Carmelle Cadet, a former executive at IBM Blockchain. Emtech's clients include seven central banks, such as those of Ghana, Nigeria, the Republic of Guinea, Liberia, Sierra Leone, The Gambia, and the Bahamas. The company also created a central bank digital currency (CBDC) proof-of-concept for the Bank of the Republic of Haiti.

    Services for central banks and fintechs

    In addition to CBDC infrastructure, Emtech offers a regulatory sandbox feature and is developing a compliance feature for financial service providers. Emtech states that it has over 200 fintech clients. Carmelle Cadet stated: 'This investment and collaboration are the result of a shared vision to guide banks in modernizing their infrastructure and processes for the era of tokenization. Successful digital transformation at this scale requires cutting-edge technology and industry expertise.'

    This investment and collaboration are the result of a shared vision to guide banks in modernizing their infrastructure and processes for the era of tokenization. Successful digital transformation at this scale requires cutting-edge technology and industry expertise.Carmelle Cadet

    Collaboration with Accenture

    The terms of the Accenture investment were not disclosed. Emtech will also join the Accenture Venture Project Spotlight accelerator. In August 2023, Emtech received $4 million in seed investment, following a $6 million pre-seed investment in 2022. Emtech uses a unified ledger model for its CBDC services. In 2021, it partnered with Hedera Hashgraph to offer its Hedera Token Service and Hedera Consensus Services. In July 2023, it introduced its CBDC Innovation Kit simulator, featuring pre-built application programming interfaces.

    Through collaboration with Emtech and other key partners, Accenture continues to actively develop the central bank digital currency domain. This partnership is a step forward for both companies in their quest to modernize financial infrastructure and adapt to ongoing changes in the financial sector.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Analysts Identify Bullish Checkmate Setup for Bitcoin

Crypto trader Cheds Trading has highlighted a potential bullish checkmate setup on Bitcoin's 4-hour chart, suggesting that reduced selling momentum could lead to a significant price increase if buyers step in.

user avatarKaterina Papadopoulou

Payward Acquires AAVE Tokens to Explore Decentralized Credit

Payward, the infrastructure company behind Kraken, announced the acquisition of AAVE tokens through an affiliated fund.

user avatarMaya Lundqvist

Solana Labs Launches Leap Mobile Trading App for iOS

Solana Labs has launched an early-access beta version of its mobile trading app, Leap, for iOS users.

user avatarLeo van der Veen

Aave Labs Expands Fixed-Rate Lending Capabilities with Avon Acquisition

Aave Labs announced its acquisition of Avon to enhance fixed-rate lending capabilities.

user avatarLi Weicheng

Investigation into Binance Theft Reveals Complexities in Cryptocurrency Tracing

Elliptic's investigation into the October Binance theft reveals complexities in tracing stolen cryptocurrency assets, highlighting challenges in identifying recipients and the need for compliance.

user avatarTenzin Dorje

Elliptic Reports $124 Million in Stolen Assets Converted to Bitcoin

Elliptic reports that approximately $124 million of stolen assets from the October Binance breach have been converted into Bitcoin.

user avatarAisha Farooq

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.