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Codefi Payments

Digital Currency Settlement for CBDCs and Asset-backed Stablecoins

Elevate global payments infrastructure with programmable and composable money.

Overview

The era of digital currencies has arrived.

Today, payments infrastructure faces numerous challenges: 

  • Central banks in G7 countries spend over $50 billion per year on clearing and settling securities.
  • Cross border payments continue to rely on correspondent banking systems that were built a century ago. They are slow, costly, and lack transparency.
  • The use of physical cash is declining significantly and new means of payments—like Libra and the Chinese digital Yuan— are emerging.
  • And 1.7 billion adults across the globe remain underbanked.

Codefi Payments presents a solution. We help central banks, financial institutions, and corporations to improve wholesale, retail, and cross-border payments with new payment infrastructure, built on Ethereum. Our digital currency settlement solution is the product of six years of technology development, and is informed by our work with six central bank digital currency (CBDC) pilots.

Reinvent national currency, retail transactions, global transfers, and cross-border remittances with CBDCs and stablecoins built with Codefi Payments.

PaymentsStack

Product Benefits
Wholesale Digital Currency

Build payments infrastructure that supports digital assets

Shared infrastructure

Create infrastructure on which multiple stakeholders can develop and deploy services. Remove dependencies between legacy IT systems and foster innovation, unlocking new services and business models.

Programmable money

Configure business logic (e.g. Delivery vs Payment, Payment vs Payment) within the money asset itself to drastically reduce the need for processing and reconciliation.

Instant settlement

Activate real-time settlement without counterparty risks.

System interoperability

Connect with existing payments layers and solutions.

codefi payments beneftis build

Retail Digital Currency

Embrace digital money for an increasingly digital economy

 

Inclusive access

Increase financial access by creating a universal means of payment that can be used by the 1.7B underbanked people around the globe.

Operational efficiency

Promote peer-to-peer transactions to reduce costs, frictions, and reliance on intermediaries.

Programmable money

Configure interest rates, payment and holding thresholds and other retail payment logic into the money asset itself to drastically reduce processing and reconciliation requirements.

Wallet portability

No more vendor lock in. Change wallet providers as easily as you change telecom operators while keeping the same phone number.

Embrace digital money for an increasingly digital economy
Cross-border Digital Currency

Make cross border payments faster, cheaper, more transparent, and more inclusive

By 2027, cross-border payments are expected to exceed $250 trillion, up from $150 trillion in 2017. The legacy banking system will fail to support these volumes, thus revamping payment infrastructure has become a top priority for the G20.

Simplified transactions

Send money around the world as easily as you send an email.

Seamless integration

Make payments easy and social by incorporating stablecoins into digital applications and building strong networks.

 

 

Make cross border payments faster  cheaper  more transparent  and more inclusive
codefi payments soon
Coming Soon

The CBDC Sandbox

Issuing a CBDC is not a simple task. Central Banks often require more understanding of available technology; they need to ensure their resources will be put to valuable use; and they need to design future-proof systems that will be widely adopted by stakeholders.

Codefi Payments will deploy and host a CBDC Ecosystem-as-a-Service, a permissioned network or test environment offering the functionalities of a CBDC platform—including Zero Knowledge Proofs for privacy and rollups for scalability (up to 10,000 TPS). Our goal is to deliver the following opportunities for central banks and payment service providers.

 

Examine the features and process flows of a CBDC platform

Design a CBDC and test wholesale, retail, and cross-border applications. Evaluate technology trade-offs such as privacy vs scalability. Examine interoperability capabilities.

 

Determine how the technology can better serve institutional requirements

Enable collaboration between public and private sector stakeholders. Ensure all stakeholders’ requirements are properly addressed. Leverage the knowledge of the community.

 

Explore different stakeholders’ roles within the CBDC ecosystem

The sandbox will comprise an ecosystem of technology partners. Private companies can integrate existing products and services, and build new ones to suit their business models.

 

Leverage ConsenSys’ thought leadership on the future of money

ConsenSys is uniquely positioned between public blockchain innovation and the enterprise blockchain ecosystem. We seek to bridge the two worlds with enhanced financial infrastructure.

Develop internal capabilities for distributed ledger technology

Run nodes, stress test the network’s security and reliability, and learn the intricacies of the technology.

REGISTER FOR THE CBDC SANDBOX

Simplify the creation of a secure payments system that bridges traditional and emerging financial markets
PRODUCT FEATURES

Simplify the creation of a secure payments system that bridges traditional and emerging financial markets.

For Central Banks

Manage administration of your CBDC platform
Issue and redeem CBDCs
Distribute CBDCs to regulated institutions (eg. commercial banks, payment service providers)
Monitor issued CBDCs to ensure alignment with reserves
Monitor network activity
Ensure continuous AML-CFT compliance

For Commercial Banks and Payment Service Providers

Acquire CBDCs
Use CBDCs for wholesale transactions
Distribute CBDCs to the general public
Onboard retail users with identity (KYC) verification
Operate regulated wallets
Configure CBDC business logic

For Retail Users

Create a CBDC wallet
Acquire CBDCs
Send and receive CBDCs
Make payments in stablecoin or cryptocurrency

Get in Touch
How it works

CBDC platforms will offer a new settlement infrastructure that will improve end-to-end global payments

Howitworks

Create faster, cheaper, and more secure global payments.

RESOURCES AND INSIGHTS

Learn more about CBDCs


Whitepaper

Central Banks and the Future of Digital Money

An overview of the history and current state of CBDC as well as an example of how a CBDC could be designed and built on the Ethereum blockchain.

Central Banks and the Future of Digital Money
Elevate global payments infrastructure with Codefi Payments