IDEMIA Secure Transactions partners with R3 to Transform Online and Offline CBDC Payments

IDEMIA Secure Transactions (IST) partners with R3, the financial markets digital solutions provider, to enable secure and seamless offline CBDC solutions. This partnership aims at offering enhanced access and usability across both online and offline channels.

IST enables secure, market-leading offline capabilities for CBDCs and other digital currencies. The solution provided to R3 leverages hardware security, robust offline payment protocols and device-integrated security layers to enable safe and easy offline transactions directly on user devices. IST also offers secure dynamic provisioning solutions, based on its platform, to remotely deploy offline wallets on user smartphones.

Integrating IST’s offline solution with R3’s Digital Currency platform enables CBDCs issued on Corda—the leading tokenization platform for regulated institutions with 60+ live applications globally—to be held and used in retail offline transactions, providing cash-like capabilities to the CBDC.

This collaboration expands the reach of CBDCs online and offline, allowing end-users to make transactions across various devices, from phones to smart cards. By positively contributing to financial inclusion, especially in remote areas with limited or no internet access, it strengthens the digital payment ecosystem and diversifies payment options. Additionally, it bolsters financial service resilience while introducing new technologies to support further customer-focused product innovation.

As 130 countries actively explore CBDCs, many others pursue alternative forms of tokenized payment solutions. These innovations have the potential to generate huge financial efficiencies for both the wholesale and retail sectors by reducing payment fees and accelerating the movement of money. By enabling secure and efficient offline transactions, IDEMIA Secure Transactions and R3 are unlocking access to this promising technology and building products for an open and connected digital future. We’re excited to expand this initiative to other product capabilities soon.
Kate Karimson, Chief Commercial Officer, R3

IDEMIA Secure Transactions is excited to partner with R3 on our offline digital currency solution. By integrating with R3’s Digital Currency platform, we enable CBDC’s issued on the Corda network to be exchanged offline from a range of devices, expanding access to digital currencies and streamlining the wallet payment experience. This partnership also introduces technology that enables consecutive offline payments between payers and payees, leveraging secure chip technology for enhanced and uncompromised security. We are proud to be driving financial inclusion and innovation at the forefront of this sector.
Kate Eagle, Head of Growth & Innovation Incubation, IDEMIA Secure Transactions