Innovation

Quant releases blockchain platform used in Bank of England's CBDC project to the public

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June 27, 2023

Quant, a blockchain technology provider, launched its Overledger Platform to the public as software-as-a-service.

The Bank of England and Bank for International Settlements used this platform for Project Rosalind, a central bank digital currency initiative, according to a press release.

With this platform, customers can issue digital money and interoperable assets, move them between blockchains, write apps and create smart smart contracts. The project is designed to cut down the time developers need to run a blockchain project.

"From central banks to their commercial counterparts, from issuers to asset managers, the financial world is now wise to the transformational value of blockchain," Gilbert Verdian, founder and CEO, Quant, said in the release. "Already used in some of the most demanding use cases in finance, Overledger is the grown-up approach to implementing this technology, one that any developer or business can now use to expand their offering, getting to market at speed and with ease. We think this is a game-changer for anyone that wants to build a business in the blockchain economy."