The Fantom Foundation has signed an MoU with OJSC Orienbank to demonstrate its CBDC solution for use in the Republic of Tajikistan.
NEW YORK, September 27, 2021--(
BUSINESS WIRE)--The
Fantom Foundation announcedthat it has signed a Memorandum of Understanding with the OJSC Orienbank, one of the largest banks in Tajikistan, to trial a hybrid CBDC platform for deployment across the country. This monumental agreement establishes Fantom as one of the first blockchain projects globally to begin development of a CBDC solution for a national government.
Fantom and Orienbank will work with the National Bank of Tajikistan to build commercial and retail payment networks for the E-SOM, the digitized version of the Tajikistani Somoni. By integrating developer Andre Cronje’s Iron Bank protocol, the Fantom-based product will also include a low-fee foreign exchange with simple fiat on- and off-ramp. Fantom, Orienbank, and the National Bank will aim for a nationwide rollout upon completion of a successful demonstration.
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