Financial technology provider FIS has announced it is launching a virtual lab that will enable central banks to pilot Central Bank Digital Currencies (CBDCs).

The company said that its virtual lab will support countries’ efforts to integrate CBDCs into their economy, allowing central banks, commercial banks, and other financial institutions to experiment with core concepts of issuance, transfer, redemption, offline payments, programmable payments, retail, wholesale and cross-border payments.

The business is also introducing a new central infrastructure payment solution which aims to accelerate real-time payments adoption by connecting a country’s businesses, consumers, financial institutions, and government entities to real-time networks domestically and internationally.

“The global economy has rapidly shifted toward digital-first mindsets and methods. While the idea of making payments in real-time may sound simple, the reality of delivering on that promise is enormously sophisticated, especially when doing so across borders,” said Aman Cheema, head of global real-time payments and CBDCs at FIS. “Our latest offering sets out to change that, bringing consumers, businesses, financial institutions and governments closer together in the payments ecosystem.

“The launch of this solution is the latest proof point of FIS’ commitment to invest in innovative technologies and solutions that advance how the world pays.”

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