The finalist of G20 TechSprint 2022 has announced the one of the company, and that is competitor from Singapore-based “Dragonfly” who made it to the list of CBDC Challenge.
Dragonfly finally won a place in the final round of the third G20 TechSprint global challenge. For This year’s challenge focuses on central bank digital currency (CBDC) following Saudi’s 2020 RegTech and SupTech, and Italy’s 2021 Green Finance. This year’s competition is held as part of Indonesia’s G20 presidency which will culminate in the G20 Heads of State and Government Summit to be held in Bali in November 2022.
The G20 TechSprint global competition which is jointly organized by Bank Indonesia and Bank of International Settlement Innovation Hub focuses on the development and showcasing of retail and wholesale CBDC as a viable solution in three core areas: issuance, wholesale, retail, and distribution of CBDC; financial inclusion through the use of CBDC; and CBDC as an improved means of interoperability among participating sovereign payment systems.
“We are honored that we have been chosen as a finalist in the issuance, wholesale, retail, and distribution of the CBDC segment. We are about serving the future unmet needs of the industry with innovative blockchain powered solutions. This growth opportunity allows us to illustrate how Dragonfly simplifies digital banking covering the entire spectrum from monetary policy making to wholesale, settlement, and retail distribution in an interoperable system,” comments Lon Wong, Founder and CEO of Singapore-based Dragonfly Fintech.
Dragonfly is excited about the increased visibility and expanding on the world stage as a cutting-edge Asian fintech leader first conceptualized in 2015, and is rapidly expanding its footprint worldwide to engage and support other central banks in making their CBDC vision a reality.
For more information, please visit www.dfintech.com
SOURCE Dragonfly Fintech Pte. Ltd.