Apollo Fintech reveals the completion of its National Payment Platform (NPP), a self-described “innovative cashless system that enables a central bank to issue a sovereign, digital currency (stablecoin) for national adoption,” according to a press release from the group.
This system ensures that those in control of a currency can bring on governments or central banks to utilize that same network, the release also states. “The entire platform has the capability to power an economy, from merchants to peer to peer transactions using its app, SMS, QR codes, cards, offline codes, and more.”
Those with power can also bring on new citizens and more to ensure transactions can occur on the network as they see fit.
Speaking on the matter is the CEO of Apollo Fintech, Stephen McCullah, who said:
“The National Payment Platform is the only blockchain-powered system that enables users to make digital payments through a sovereign currency. The NPP enables regulated banks and commercial entities to harness the power of blockchain and facilitate frictionless transactions. This allows economic participants to save large amounts of time and resources and enables an economy to gain massive efficiencies at scale.”
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