UDPN Launches Innovative Solutions for Tokenised Deposits, Stablecoins, and Asset Tokenisation

Singapore, 25 June, 2024 – After running over a dozen Proofs of Concept (PoC) with multiple global banks, technology companies, and intergovernmental organisations, Universal Digital Payments Network (UDPN) today launched two digital currency management systems for commercial use, designed to reshape the landscape of digital payments and assets in the financial sector:

• Tokenised Deposit/Stablecoin Management System: Designed for both commercial banks and regulated stablecoin issuers, it streamlines the entire lifecycle of tokenised deposits and stablecoin services - from issuance to operation, including advanced interoperability features.
• Digital Asset Tokenisation System: Provides a robust platform for financial institutions, such as banks and investment firms, to tokenise real-world assets and manage them within a regulated environment.

As major international banking giants like J.P. Morgan, Citibank, and Société Générale have launched digital currency and asset services, digital transformation in the financial sector is becoming business critical. Traditional bank payment systems suffer from high costs, lack of transparency, slow speeds, and inefficiencies - especially problematic for high-volume, cross-border transactions. Adopting new digital technologies enables financial institutions to considerably reduce operating costs, enhance transparency, and offer innovative services. Digital currencies cut transaction time from days or weeks to mere seconds and eliminate counterparty risks through the use of smart contracts, ensuring smooth circulation among banks.

Operating a digital currency system involves complex lifecycle management. These new digital currency and asset systems must easily integrate into core banking systems, to ensure compliance and security in a regulated environment. UDPN’s solutions can efficiently link to legacy systems via APIs, ensuring seamless interoperability with traditional banking infrastructures and other digital currency systems within regulated frameworks. As regulatory scrutiny intensifies around stablecoins and digital assets globally, UDPN's solutions offer a robust and compliant framework tailored for operation within regulated financial environments.

UDPN's innovative solutions, Tokenised Deposit/Stablecoin Management System and Digital Asset Tokenisation System, provide comprehensive, ready-to-deploy digital currency and asset systems, which can be installed in a bank or a stablecoin operator’s on-premises or cloud environment, granting institutions full data sovereignty and the flexibility to choose their underlying infrastructure and deploy digital currencies or assets on any public or private blockchain. Both solutions offer a unique advantage: the optional ability to interoperate with other regulated digital currency systems through UDPN's infrastructure. This feature promotes seamless collaboration and integration within the digital currency ecosystem.

“We see a growing demand for tokenised deposit business cases with our banking clients which we are addressing now with the Tokenised Deposit/Stablecoin Management System. Tokenised deposits must be connected with banking infrastructure, but traditional IT systems do not support these new solutions yet. With our deep expertise in legacy core banking systems combined with our cutting-edge Web3 knowledge, we are enabling our clients with new payment use cases and facilitating fast multi-chain transactions.” commented Christopher Ortiz, Group Chief Executive Global Markets and Region Manager APAC & UK, GFT.     

As the financial world rapidly digitises, financial institutions and banks must embrace innovation to stay ahead. UDPN's cutting-edge Tokenised Deposit/Stablecoin Management System and Digital Asset Tokenisation System empower financial leaders to forge the future of digital banking today.

For more information on how these technologies and UDPN can transform financial operations, or to arrange a demonstration, interested parties are encouraged to visit udpn.io or to reach out via email at contact@udpn.io.