eCurrencyMint: Spearheading the Secure Issuance of Digital Fiat Currency by Central Banks

Jonathan Dharmapalan, CEO
The cornerstone of any financial transaction in an economy is currency. The trust that people have in a currency is due to the trust they have in the central bank that issues the currency. In the digital currency realm, this trust is reaffirmed through digital fiat currency or Central Bank Digital Currency (CBDC) that is issued by the central bank of that particular country. Many central banks do not possess the necessary technology to digitalize their currency to be easily executed through different payment platforms. eCurrency Mint Limited (eCurrency), a pioneering technology company enables central banks to issue a secure and efficient digital fiat currency through its turnkey solutions. “We empower and enable central banks to issue digital currency, by providing technological and security components needed to issue their own CBDC,” begins Jonathan Dharmapalan, founder and CEO of eCurrency.

eCurrency was amongst the first to recognize that the transformation of money into digital form was inevitable. While cryptocurrency technologies consumed the airwaves, eCurrency was quietly developing a technology enabling central banks to issue a secure digital fiat currency. eCurrency enables a central bank to issue a known amount of CBDC, which then gets distributed via channels like commercial banks, merchants, internet and mobile money operators across any payments system, to consumers who transact through digital wallets.

While the present digital market abounds with electronic money platforms, in case of digital currencies the lack of interoperability and security regulations governing them hampers their usage. A currency’s interoperability is defined by the country’s central banking act and its status as legal tender. “We look at digital currency as a digital “fiat” currency, made available broadly to the public. It is not a private cryptocurrency issued by private parties,” says Dharmapalan.

Our mission is to provide the ultimate form of financial inclusiveness for our customers to extend to the general public

eCurrency provides a secure instrument of exchange abiding by the central bank’s security regulations, through a ‘technology-agnostic’ platform that confirms the currency’s origin to its central bank issuer. Hence, the CBDC is ‘non-counterfeitable’ and secured. “If a user is holding the secure digital instrument as a bearer instrument and it is protected by the right kind of cryptography, then other users can accept it because the law confirms that it was issued by the central bank, which makes it interoperable,” clarifies Dharmapalan.

An exciting application of eCurrency’s technology is a newly launched digital money product in the Philippines, the ePeso. ePeso, the digitized Philippine peso, is the resulting product of Rizal Commercial Banking Corp (RCBC) and eCurrency collaboration. The Philippines, a country known for its distributed islands, has always faced the challenge of providing paper currency to its isolated islanders. ePeso smartly addresses the challenges of large geographic distances and limited banking access through smartphone apps and mobile wallets solutions, without the hassle of maintaining a compulsory bank account. Through ePeso, the Philippines can efficiently provide monetary access even to customers from remote parts of their country, thereby enabling financial equality to its public in terms of digital currency services.

eCurrency is now actively working with other central banks to make CBDC a reality. “With digital currency being the most inclusive financial service, our mission is to provide the ultimate form of financial inclusiveness for our customers to extend to the general public,” concludes Dharmapalan.


Dublin, Ireland

Jonathan Dharmapalan, CEO

Combines hardware, software, and cryptographic security protocols to provide central banks the tools to preserve their charter and doctrine in an increasingly digital economy