ProgressSoft Corporation was honored with the Advancement of Digital Currency in Interoperability award by the Digital Currency Advisory Committee in Washington D.C., USA on February 25, 2022.
The prestigious award recognizes ProgressSoft’s Blockchain-based Central Bank Digital Currency (CBDC) solution as a pioneering innovation in the digital currency arena owing to its bespoke features that assist central banks in not only introducing the advanced form of national money, but revolutionizing the future of interoperability in cross-border financial ecosystems.
“This award is a testimony of our commitment to providing world-class solutions to the financial sector.” Noted Michael Wakileh, ProgressSoft’s Co-founder and CEO, “It is an honor to continue to be placed in distinguished ranks to central banks around the world, and we will assure this continuity of excellence.”
ProgressSoft’s Blockchain-based CBDC has been gaining massive attention from central banks in recent years looking to set digital currency projects in motion, with an emphasis on the need for interoperability beyond national borders, seamless co-existence with traditional money, and ability to conduct offline transactions, all of which the solution inherently offers.
Shaun Ferrari, VP at Currency Research, commented, “For our inaugural awards for the Advancement of Digital Currency, we looked for solutions that are leading the way in the main aspects of CBDCs. In the case of ProgressSoft, with its open API, the solution excels in its interoperability with other CBDCs, settlement systems, mobile applications, and AML solutions. We felt this approach and solution demonstrated important advancement, ideals, and leadership to the industry.”
Being one of the world’s first vendors to offer a blockchain-based CBDC that is modular, configurable and highly secure, ProgressSoft complements its solution with national advisory on the financial, economic and regulatory scopes of implementing a CBDC by credible consultants that present central banks with a complete analysis of a CBDC implementation for their country.
“We realize the impact of having a CBDC in a country and what benefits it brings to the community. As real-time payments solutions provider, we urge central banks to embrace the future of advanced money by implementing a CBDC of their own, and we are committed to providing comprehensive means throughout their journey. The future holds yet unrealized potentials of what CBDC technology is capable of.” said Hussein Jundi, CBDC Account Manager at ProgressSoft.