eCurrency CBDC technology in Madagascar for eAriary Project at Banky Foiben'i Madagasikara (BFM)
DUBLIN, Oct. 29, 2025 /PRNewswire/ -- eCurrency Mint, the award-winning global provider of Central Bank Digital Currency (CBDC) solutions, is set to begin the pilot phase of the eAriary project in Madagascar this month.
The eCurrency DSC3 technology was selected for its ability to integrate seamlessly into Madagascar's existing financial ecosystem in partnership with PayLogic SA. The solution will be piloted to align with the specific requirements of BFM, the central bank of Madagascar.
Compliant with all regulatory and technical requirements set by BFM, the solution enables secure and efficient transactions through a post-quantum digital bearer instrument. The eAriary CBDC operates as a true general purpose digital bearer instrument for a wide range of use cases.
"We are truly honored to be selected as the preferred technology partner for Madagascar's CBDC initiative. The groundbreaking eAriary project marks a pivotal step in the country's financial innovation journey, and we are proud to support BFM in shaping a more inclusive, secure, and modern digital economy." – Jonathan Dharmapalan, CEO, eCurrency.
BFM will preserve its exclusive authority as the sole issuer of the national currency, while distribution to the public will be handled by private sector entities, including commercial banks, e-money providers, microfinance institutions, and fintech companies.
About eCurrency
eCurrency is the global leading provider of digital currency security systems for central banks. Using Digital Symmetric Core Currency Cryptography (DSC3) technology, eCurrency enables central banks to securely and efficiently issue digital fiat currency as a digital bearer instrument to operate alongside notes and coins. By enabling more secure and efficient digital transactions, eCurrency solution supports the vast economic opportunities presented by the global shift to digital payments, including increased transaction efficiency, financial inclusion, and economic growth.
About Banky Foiben'i Madagasikara
Banky Foiben'i Madagasikara (BFM), is a public institution with legal personality and which benefits from financial and operational autonomy in the exercise of its mission. The first objective of BFM is to ensure the internal and external stability of the currency.
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SOURCE eCurrency Mint