Oneiro, Inc. Launches First Central Bank Digital Currency Platform on Cosmos Protocol Aimed Toward Banks and Financial Institutions
Oneiro offers a turn-key solution for emerging economies to digitize central banking and overcome the cost, complexity, and structural barriers inherent in traditional approaches
Oneiro (https://oneiro.io), global provider of high-performance blockchain solutions, and developer of the first adaptive digital currency ndau.io announced today it has launched a new software platform aimed towards accelerating the development of Central Bank Digital Currencies (CBDCs).
The Oneiro Digital Currency Platform allows central banks and other financial institutions to rapidly bring to market new secure, scalable, and easy to use digital currencies with fully customizable monetary policies to combat the rapid inflation and value instability that is prevalent across various emerging and developing countries.
According to the Bank for International Settlements (BIS), 80% of banks are engaged in or about to start CBDC work, and of these more than half are exploring both general purpose and wholesale CBDCs. Top motivations include payment safety, domestic efficiency, financial inclusion, and cross-border payments.1
Oneiro has spent the past three years at the forefront of blockchain development, launching the world first adaptive digital currency ndau in 2019, and now releasing its CBDC Platform, built on the Cosmos/Tendermint protocol.
“We are pleased with the progress Oneiro has made to extend their blockchain expertise into the CBDC space,” said Ciarán Hynes, Managing Partner at COSIMO Ventures, a large stakeholder in Oneiro. “Building an institutional-grade CBDC is time consuming and requires large amounts of blockchain expertise and development that goes far beyond the base compliance protocol layer offered by existing general-purpose platforms.”
“We believe the Oneiro CBDC Platform allows emerging markets to overcome the development pains with a software platform that accelerates time-to-market, bringing digital banking to the countless number of unbanked people across the world.” Said Ciaran Hynes “Now banking is accessible to all!”
Similar to ndau, the Oneiro CBDC Platform is built on Tendermint/Cosmos proof of stake protocol, the ecosystem is scalable for retail transactions, high performance for instant transaction finality, and secured with multi-signature authentication for versatile digital wallet functionality. Able to be easily white labeled for institutional or governmental use, Oneiro has opened the door for partnerships with institutions and governmental agencies interested in accelerating their development into the future toward an efficient and sustainable digital banking solution.