Emtech, an African provider of central banking infrastructure, has raised $4 million in a seed investment round led by Matrix Partners India. The company plans to use the funds to further develop its Central Bank Digital Currency (CBDC) stack and its regtech solution. Emtech recently introduced its CBDC Innovation Kit, aimed at fintechs and financial service providers interested in experimenting with solutions based on digital currencies pioneered by central banks. The company is currently working with six central banks in Africa and has a waitlist of about 200 fintech companies interested in its platform. The CBDC Innovation Kit functions as a simulator to provide fintechs access to a digital cash infrastructure that banks can emulate, bridging the gap between fintech innovation and central banking oversight.
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