Curated News
By: NewsRamp Editorial Staff
December 05, 2024

DC Wallet Forms Strategic Partnership to Drive CBDC Adoption in India

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Source News Release

TLDR

  • Strategic partnership with AFC India Ltd aims to drive mass adoption of CBDCs in India, offering potential advantage to early adopters.
  • DC Wallet, powered by Radix XRD Ledger, is launching an advanced platform for CBDCs and digital asset management, offering cutting-edge technology.
  • Partnership with AFC India Ltd aims to enhance financial inclusion, offering last-mile connectivity, cost-effective cross-border payments, and offline transaction options for unbanked and underbanked populations.
  • DC Wallet offers advanced digital currency management features powered by the Radix technology stack, including real-time AML/CFTC monitoring, quantum-grade encryption, and seamless asset conversion.

Impact - Why it Matters

This partnership between DC Wallet and AFC India Ltd is crucial for the acceleration of CBDC adoption in India and beyond, potentially impacting over 200 million users in the country. The initiative also aims to enhance financial inclusion for India’s unbanked and underbanked population, providing them with access to secure and efficient digital currency management solutions.

Summary

DC Wallet, powered by Radix technology, has formed a strategic partnership with AFC India Ltd, a Government of India undertaking, to accelerate the adoption of CBDCs in India and other countries. The collaboration aims to provide closed loop wallet solutions to sectors such as agriculture, education, and travel, with a potential reach of over 200 million users. DC Wallet, in conjunction with AFC, will help integrate with public and private sector banks, enhancing last-mile connectivity through offline transactions for India’s unbanked and underbanked population.

Source Statement

This curated news summary relied on this press release disributed by BlockchainWire. Read the source press release here, DC Wallet Forms Strategic Partnership to Drive CBDC Adoption in India

blockchain registration record for the source press release.