Xion Global has combined its web3 multi-chain payments infrastructure with G+D’s CBDC solution Filia for interbank deposit token transfer to bridge the gap between blockchain and traditional financial systems.
As a result, Xion is creating a seamless financial ecosystem for digital asses as well as public currencies. Xion will provide customised solutions for the Asia Pacific, and Europe, Middle East and Africa regions.
According to Xion, its Proof of Concept serves as a cornerstone for the new financial architecture. The solution leverages the infrastructures of both companies. This means that Xion can enable instant transactions across a variety of blockchain networks and traditional financial channels. Designed for seamless integration with existing financial platforms, the solution offers scalability and customisation to meet the nuanced needs of financial service providers. It optimises their operational efficiency and enhances the user experience.
Xion Global, Giesecke+Devrient solution targets APAC and EMEA regions
The solution also ensures the protection of sensitive financial data through multiple layers of security protocols.
The initiative targets the APAC and EMEA regions and meets the financial needs of both individual and institutional clients. Pilot programmes are under active development to deliver inclusive, efficient, and secure financial services that address the unique characteristics of these diverse markets.
The future roadmap also includes the integration of offline payment capabilities. This feature will facilitate transactions using deposit tokens and smart cards without the necessity for internet connectivity, thereby democratising access to financial services.
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By GlobalData
A financial paradigm shift
“In the fast-paced landscape of digital transformation, Xion Global and G+D are at the forefront of a financial paradigm shift,” said Aeryn Quarmby, COO at Xion Global. “Our approach aims to combine the robustness of traditional financial systems with cutting-edge fintech solutions. It targets a range of financial service providers and stakeholders across diverse markets.”
Raoul Herborg, MD, Digital Currencies at G+D, added: “We very much welcome the initiative of Xion Global. It once again demonstrates one of the key strengths of our Filia infrastructure: its interoperability. It can flexibly interoperate with existing and new systems. And it enables private sector players to integrate public digital currencies and develop new applications and innovations.”
