Draft:Universal Digital Payments Network

The Universal Digital Payments Network (UDPN) is a standardized common messaging infrastructure that connects digital currency systems for digital payments and interoperability of Central Bank Digital Currencies (CBDCs) and regulated stablecoins.

The UDPN is a permissioned network and operates as a co-governed platform that does not directly serve end-users.

History
In January 2023, during the World Economic Forum in Davos, Switzerland, the UDPN was annanced together by German listed company GFT Technologies [de], DLT Piper's digital branch TOKO, and decentralized cloud infrastructure Red Date Technology.

In October 2023, Deutsche Bank and Standard Chartered's SC Ventures completed real-time on-chain transfer and swap between USDC and EURS stablecoins on the UDPN. This POC brought SV Ventures to win the SBR Technology Excellence Awards 2024 – Financial Technology category.

In December 2023, SC Ventures by Standard Chartered Bank and Giesecke+Devrient completed PoC#10 on the UDPN, executing real-time cross-border CBDC transactions between DLT and non-DLT representations of currency. This solution was shortlisted as a finalist at the G20 TechSprint 2023.

In March 2024, the UDPN opened its sandbox for banks to test their CBDCs and digital currencies.

In June 2024, the UDPN launched tokenized deposit/stablecoin management system and digital asset tokenization system.