Case Study: ANZ Bank builds an inclusive digital currency solution with Persistent Systems

ANZ Bank builds an innovative Digital Currency solution for the MAS challenge

ANZ Bank partnered with Persistent Systems to respond to the Monetary Authority of Singapore’s Global CBDC Challenge, with a goal of exploring how central bank digital currency could improve payment efficiency, financial inclusion, and digital public services. The bank wanted a practical, citizen-first model for CBDC that could fit into a broader digital ecosystem and support e-governance and smart nation initiatives.

Persistent Systems helped ANZ Bank build the National Integrated CBDC Ecosystem (NICE), a prototype using Corda distributed ledger technology, National Digital ID authentication, and wallet-based distribution for citizens and businesses. The solution enabled fast disbursal of CBDCs, interoperable payments across wallets and payment rails, and programmable digital money; ANZ reported that Persistent delivered the prototype in just a few weeks and helped bring its CBDC vision to life for the MAS challenge.

ANZ Bank

Balaji Nataraja

Head of Payments and Cash Management