It was an honour to present the Currency Network’s unique vATM solution to the esteemed panel of Swiss National Bank (SNB) board members, BIS, Central Bankers and Policy Makers at the SNB Forum. It was the Technology & Finance Seminar hosted by SNB at its Zurich HQ to discover the next-gen technology for retail CBDC. We are delighted at the number of interests and opportunities it has generated for us from the who’s who of the central banking community.
Virtual ATM (vATM) is a retail CBDC issue and distribution system that is developed by the same team who were involved in project Tourbillon. vATM is unique in the sense that it expedites retail CBDC adoption by removing central bank’s dependency on the commercial banks in terms of customer onboarding and CBDC distribution. A FinTech or PSP is able to operate vATM network and provide services to commercial banks, merchants and consumers. The vATM presents a new innovative commercial model by combining current business models of ATM (Automated Teller Machine), PSP (Payment Service Provider) and Customer Engagement Platform (rewards and affiliate marketing). The model benefits all participants including central bank, commercial banks, merchants and consumers in the retail CBDC ecosystem.