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Oslo, Norway – 17 March 2021 - IDEX Biometrics ASA, a leading provider of advanced fingerprint identification and authentication solutions, have been selected, to be the strategic technology partner, by Goldpac Group Ltd (Goldpac), on their Digital Currency/Electronic Payment (DC/EP) hardware-based digital wallet (hardware wallet) initiative. IDEX has also received a new order for fingerprint sensors to support this initiative.
DC/EP is the name given to the Central Bank Digital Currency (CBDC) of China and is the digital version of the yuan, China's national currency. A CBDC involves using blockchain technology to represent a country's official currency, meaning it is regulated by a central bank unlike popular existing cryptocurrencies. DC/EP is backed by yuan deposits held by China's central bank. China plans to roll out DC/EP ahead of the Winter Olympics which are being held in China in February 2022, and will be used for purchases in all sectors across the country.