Central Banks Globally Respond To Bitcoin With Their Own Digital Cash

Philanthropic investment firm backed by eBay Inc. founder Pierre Omidyar, Omidyar Network, announced today in a press release on PE HUB its investment in eCurrency Mint (eCM), a Dublin-based company that has pioneered a new technology to enable central banks to issue digital fiat currency, called eCurrency.

Funds raised in the Series C round led by Omidyar Network, will open eCm technology for central banks globally to enable them to evolve their national currencies efficiently and securely and to keep up with the digital world.

The investment was made through the firm’s Financial Inclusion initiative, and is part of the overall strategy to support innovative technologies to massively increase the reach and scale impact of affordable, convenient, and flexible financial services to consumers and small businesses globally.

As Tilman Ehrbeck, partner at Omidyar Network, commented on the investment in the press release, Paper-based money is becoming an antiquated tool in an increasingly digital economy. Those who rely heavily on cash to conduct their financial lives are often locked out of the for ...

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