Neitec and the Dominican Banking Association (ABA) — a key player in the digital transformation of the country's financial sector — announced a strategic agreement to create a private sandbox that explores how Distributed Ledger Technologies (DLT) can enhance operational efficiency within the Dominican banking sector.

As part of the initiative, Neitec will deploy its suite of solutions, including Debita, our platform for issuing and managing on-chain debt instruments with secure and transparent transactions, and Fidere, our platform for the automated and transparent management of trusts.

The collaboration reaffirms Neitec's commitment to the Dominican Republic — the seventh-largest economy in Latin America, distinguished by its sustained economic growth, legal stability and capacity to foster innovation.

Leadership statements

"The Dominican banking system is actively exploring innovative ways to facilitate value transfer in today's fast-evolving digital economy. By testing these technologies, Dominican banks are positioning themselves at the cutting edge of global financial innovation, ensuring that they remain competitive." — Rosanna Ruiz, ABA President
"This partnership with ABA aligns with our commitment to Latin America as a key region to deploy our solutions. Through this collaboration, we aim to address challenges such as enhancing financial inclusion and impacting the development of capital markets." — Julio Ferrón, CEO at Neitec

About the Dominican Banking Association (ABA)

The Dominican Banking Association represents the country's commercial banks. Its primary mission is to advocate for these banks and to facilitate collaboration with regulators, supervisors, public and private institutions, and society at large. ABA was honoured with the Fintech Americas 2024 award in recognition of its efforts promoting the adoption of emerging technologies.

About Neitec

Neitec is a fintech company designing products that drive efficiency in financial markets, leveraging Distributed Ledger Technologies. The team brings together experts in capital markets, compliance and legal matters alongside blockchain specialists and developers.