Program to provide CBDC payment network to 110 qualifying central banks

Roxe has announced it will provide 113 qualifying central banks with free, complete access to its global Central Bank Digital Currency (CBDC) payment network.

Each central bank will be able to issue, manage, and distribute its own CBDC worldwide while interoperating with other CBDCs on the Roxe network.

The Roxe network increases CBDCs’ global circulation and liquidity by interconnecting them with a global payment system that includes non-bank payment providers, domestic and foreign banks, and cross-border remittance companies.

Nearly all of the countries with a per-capita GDP below the worldwide median are eligible. These countries stand to benefit most from a CBDC, reducing payment inefficiencies while providing citizens with an onboarding to digital payments and global financial inclusion.

The interconnected, Roxe global CBDC payment network will not only improve domestic monetary systems, says the network, but it will also facilitate cross-border commerce by removing costly intermediaries and enabling instant settlement.

“We unify fragmented payment systems so that different CBDCs and fiat currencies can easily connect and interoperate with each other,” said Haohan Xu, CEO of Roxe.

“The Roxe Instant Settlement Network allows financial institutions, especially banks, central banks, and payment and remittance companies, to transfer fiat and digital currencies in seconds at much lower costs anywhere in the world.”

The company says it welcomes leaders from central banks, multilateral development banks (MDBs), multilateral financial institutional (MFIs), NGOs and institutions such as the World Bank, UN, and IMF, to learn more by visiting CBDC for Central Banks.