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include the development of a Digital Currency/Electronic Payment (DC/EP) card
based solution supporting the People’s Bank of China initiative. The new, smart
card based digital wallet will be secured by IDEX’s TrustedBio™ fingerprint
authentication technologies.
IDEX is a well-established biometric technologies provider, with competitive
advantages in biometric performance, system security architecture and
convenience, within the rapidly expanding field of secure payment cards. Chutian
Dragon, one of Asia’s largest smart card manufacturers, is a leading participant
in the Digital Currency/Electronic Payment National Project initiative and, as
China accelerates the deployment of Central Bank Digital Currency (CBDC)
infrastructure, well-positioned to be a frontrunner in delivering secure, card-
based, digital currency applications. IDEX and Chutian Dragon entered into their
initial license and commercialization agreement back in 2019, and have continued
to expand the collaboration and partnership to today’s focus on one of the most
important initiatives within the Chinese banking community.
By planning and building an infrastructure for mass digital payments, online or
offline, China will be providing a solution for the millions of unbanked and
underbanked people in China. The card-based digital wallet initiative is
intended to be especially beneficial to the nearly 45% of the Chinese population
who do not have access to a smartphone, thereby helping to narrow the digital
divide in financial services. China’s six largest banks began multi-city trials
of Digital Currency/Electronic Payment in December 2020, with enthusiastic
consumer response. A mandate to deploy digital currency in time for the Beijing
Winter Olympics in 2022 will continue to drive the pace of rapid development.
Fingerprint biometrics are an enabling feature for the card-based form factor of
the “digital yuan,” assuring ease of use for safe and secure consumer
transactions. Like private cryptocurrencies, central bank sponsored digital
currencies, such as the Digital Currency/Electronic Payment initiative, are
based on blockchain technology. However, central bank sponsorship fosters
confidence in the concept of a digital currency.
Susan Su, Chief Executive Officer of Chutian Dragon, stated, “We are pleased to
be working with IDEX Biometrics on our latest Digital Currency/Electronic
Payment card products. IDEX’s advanced fingerprint sensors and biometric
technologies are already qualified for the card environment and are well suited
for payment card based contactless transactions.”
Vince Graziani, Chief Executive Officer of IDEX Biometrics, stated, “The planned
rapid deployment of Central Bank Digital Currency in China presents an ideal
application for our secure fingerprint sensors and biometric technologies in
protecting stored value within a hard wallet. Protecting stored value of digital
currency for individuals is recognized as an important use-case in the
deployment of Digital Currency/Electronic Payment. Chutian Dragon established
position in the Chinese market and its early leadership in Digital
Currency/Electronic Payment makes the company an ideal partner for us.”
NOTE: For further information on Central Bank Digital Currency visit the blog
section of our website www.idexbiometrics.com/blog/
For further information contact:
Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47?9180 0186
Brett L Perry, U.S. Investor Relations
E-mail: bperry@sheltongroup.com
Tel: + 1 214 272 0070
About Chutian Dragon Co. Ltd.
Chutian Dragon Co., Ltd. (Abbreviation: CTD and SZSE: 003040) is a multi-field
solution provider focusing on the high-end smart card and supporting software,
intelligent terminal equipment, digital archives, application platform system
and security solutions. We are committed to providing high quality products and
services for customers in government, finance, communication, transportation,
medical and other industries.
For more information, visit https://www.smart-iccard.com/
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) is a leading provider of
fingerprint identification technologies offering simple, secure, and personal
touch-free authentication for all. We help people make payments, prove their
identity, gain access to information, unlock devices or gain admittance to
buildings with the touch of a finger. We invent, engineer, and commercialize
these secure, yet incredibly user-friendly solutions. Our total addressable
market represents a fast growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com
(http://www.idexbiometrics.com) and follow on Twitter @IDEXBiometrics
Trademark Statement
The wordmark ‘IDEX’ and the IDEX logo are registered trademarks of IDEX ASA. All
other brands or product names are the property of their respective holders.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act
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