Specifically, Xion Global has integrated Giesecke+Devrient’s (G+D) technology into its financial solution, utilizing the web3 multi-chain payments infrastructure alongside G+D’s CBDC solution, Filia. This collaboration facilitates interbank deposit token transfers, establishing a comprehensive financial ecosystem for both digital assets and public currencies. The focus of Xion’s tailored solutions lies in servicing the Asia Pacific (APAC) and Europe, Middle East, and Africa (EMEA) regions.
The Proof of Concept (POC) by Xion serves as an important element in this emerging financial architecture. Leveraging the combined infrastructures of Xion and G+D, the solution allows for instantaneous transactions across diverse blockchain networks and conventional financial channels. Engineered for seamless integration into existing financial platforms, it incorporates both scalability and customisation to accommodate the specific requirements of financial service providers. This optimisation aims to improve operational efficiency, as well as user experiences while ensuring the safeguarding of sensitive financial data through multiple layers of security protocols.
The aim of this new initiative
Xion’s initiative is strategically directed at meeting the financial needs of both individual and institutional clients in the APAC and EMEA regions. Ongoing pilot programmes aim to deliver inclusive, efficient, and secure financial services that cater to the unique characteristics of these diverse markets. Additionally, future developments on the roadmap include the incorporation of offline payment capabilities. This feature will enable transactions using deposit tokens and smart cards without the reliance on internet connectivity, fostering broader access to financial services.
In the company press release, officials from Xion Global emphasised the significance of their approach in the rapidly evolving landscape of digital transformation. They also highlighted the aim to merge the robustness of traditional financial systems with new fintech solutions, targeting a broad spectrum of financial service providers and stakeholders across diverse markets.
In turn, officials from G+D welcomed Xion Global’s initiative, highlighting the interoperability of their Filia infrastructure as a key strength. They also talked about Filia’s flexible ability to interact with existing and new systems, allowing private sector players to integrate public digital currencies and support new applications and innovations.
Xion Global functions as a multi-chain web3 payments provider, providing a suite of APIs and infrastructure designed for the acceptance, transmission, and incentivisation of payments on a global scale. Positioned as an important web3 payments provider in Africa, Xion is focusing its efforts on expansion by forming partnerships with prominent network, payment, and financial service providers that possess extensive user networks.