eCurrency Mint, a Dublin, Ireland-based provider of technology that enables central banks to issue digital fiat currency, called eCurrency, raised a Series C round of funding of undisclosed amount.
The round was led by Omidyar Network, which made the investment through its Financial Inclusion initiative.
The company will use the funds to make the technology available to central banks around the world.
Led by Jonathan Dharmapalan, founder and CEO, eCM provides technology that allows central banks to issue eCurrency. The solution combines hardware, software, and cryptographic security protocols to enable a country’s central bank to issue digital fiat currency, and fully manage its operation, including the ability to monitor its movement through payments systems in near-real time.
The solution works across all existing payments systems and current infrastructures, and it can be customized to comply with nation-specific security and regulatory frameworks.
It was developed based on feedback through direct engagement with 30 central banks and has been successfully piloted in multiple countries.