The legal standard and doctrine of central banks being sole issuers of sovereign legal tender is enforced through the adoption of eCurrency. It is a true digital fiat currency authorized and issued by the central banks just like notes and coins. eCurrency Monarch™ system leverages the legal tender characteristics to enable instant settlement across interoperating parties.
Delivering a set of standards-based APIs that establish a national e-money interoperability standard, the eCurrency Monarch™ is independent of specific payment system technologies and establishes a level playing field for all participants in the eCurrency ecosystem.
Delivering unprecedented security across the entire payments ecosystem, eCurrency Monarch™ extends the hardware and process-based security of eCurrency beyond individual payment systems, and enforces it across the entire interoperating payment systems network.
Unlike paper money, eCurrency Monarch™ delivers immediate, real-time e-money transparency to the regulators. eCurrency transactions are captured in real time and presented in a form of real-time dashboards and reports while providing privacy guards as may be required by law.
eCurrency is a tool to extend simple currency regulation into the digital age. It ensures that central banks and commercial banks retain their role of regulating and controlling the money supply while enabling the digital payment providers to thrive under simple and inexpensive regulatory framework.
Systemic risks presented currently by the proliferation of unregulated, privately-issued forms of digital value are removed by central bank adoption of eCurrency. It enables any payment system to operate using central bank digital currency empowering private payment providers to innovate without risking monetary instability.