Draft:Universal Digital Payments Network
Submission declined on 31 July 2024 by SafariScribe (talk).
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| Submission declined on 6 July 2024 by SafariScribe (talk). This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are: Declined by SafariScribe 5 months ago.
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| Submission declined on 7 February 2024 by Stuartyeates (talk). This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are: Declined by Stuartyeates 10 months ago.
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Comment: Most of these sources are press releases of involved parties. Stuartyeates (talk) 09:18, 7 February 2024 (UTC)
The Universal Digital Payments Network (UDPN) is a standardized common messaging infrastructure[1] that connects digital currency systems for digital payments and interoperability of Central Bank Digital Currencies (CBDCs) and regulated stablecoins.[2][3]
The UDPN is a permissioned network and operates as a co-governed platform that does not directly serve end-users.[4]
History
[edit]In January 2023, during the World Economic Forum in Davos, Switzerland, the UDPN was annanced together by German listed company GFT Technologies [de], DLT Piper's digital branch TOKO, and decentralized cloud infrastructure Red Date Technology.[5][6]
In October 2023, Deutsche Bank and Standard Chartered's SC Ventures completed real-time on-chain transfer and swap between USDC and EURS stablecoins on the UDPN.[7]This POC brought SV Ventures to win the SBR Technology Excellence Awards 2024 – Financial Technology category.[8]
In December 2023, SC Ventures by Standard Chartered Bank and Giesecke Devrient completed PoC#10 on the UDPN, executing real-time cross-border CBDC transactions between DLT and non-DLT representations of currency.[9]This solution was shortlisted as a finalist at the G20 TechSprint 2023.[10]
In March 2024, the UDPN opened its sandbox for banks to test their CBDCs and digital currencies.[11]
In June 2024, the UDPN launched tokenized deposit/stablecoin management system and digital asset tokenization system.[12]
References
[edit]- ^ "Interoperability key to unlocking potential of regulated digital payments". Official Monetary and Financial Institutions Forum. 2023-02-28. Retrieved 2024-07-17.
- ^ Adams, John (2023-01-31). "Swift aims to be a bridge for digital currencies". American Banker. Retrieved 2024-03-28.
- ^ Gordon, David; Nouwens, Meia (2022-11-29). The Digital Silk Road: China's Technological Rise and the Geopolitics of Cyberspace. Taylor & Francis. ISBN 978-1-000-88520-0.
- ^ "PROJECT DYNAMO - CBDCS, STABLECOINS, AND DEPOSIT TOKENS: WHOLESALE ADOPTION EXPLORATIONS AND CHALLENGES" (PDF). BIS Innovation Hub. 2023-06-08. Retrieved 2024-07-15.
- ^ BHARDWAJ, SHASHANK (2023-01-24). "Universal Digital Payment Network Launched By Hong Kong-based Blockchain Company". Forbes India. Retrieved 2024-02-16.
- ^ "Company behind China's Blockchain Service Network wants a Swift for stablecoins". South China Morning Post. 2023-01-21. Retrieved 2024-03-29.
- ^ "Crypto Insights - December 2023" (PDF). Ernst & Young (EY). Retrieved 2024-06-15.
- ^ "SC Ventures was lauded at the SBR Technology Excellence Awards for exploring digital asset potential". SC Ventures | Standard Chartered. 2024-04-22. Retrieved 2024-07-18.
- ^ Singapore, Fintech News (2023-12-12). "SC Ventures and G D Complete Pilot on Different Types of CBDC Systems". Fintech Singapore. Retrieved 2024-07-18.
- ^ "BIS and Reserve Bank of India announce winners of G20 TechSprint 2023". Bank for International Settlements – BIS. 2023-09-04. Retrieved 2024-07-18.
- ^ "GFT Technologies SE: UDPN launches All-in-One Digital Currency Sandbox". Business Insider. 2024-03-13. Retrieved 2024-07-18.
- ^ "UDPN launches solutions for tokenised deposits, stablecoins and asset tokenisation". The Asian Banker. Retrieved 2024-07-18.
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