DILI, Timor-Leste, July 31, 2025 -- The Banco Central de Timor-Leste (BCTL) has entered a new phase of its strategic partnership with Montran, a global leader in financial infrastructure solutions, to drive modernization of the country's payments ecosystem and advance development of a Central Bank Digital Currency (CBDC).
Timor-Leste's financial system, while showing progress in recent years, continues to face challenges, including limited banking penetration, underdeveloped rural infrastructure, and high dependency on cash-based transactions. In response, BCTL has launched a national digital transformation aimed at fostering financial inclusion, strengthening resilience, and supporting long-term growth.
As part of this initiative, Montran's Instant Payments Solution (IPS) will be deployed across the country to enable secure, real-time payments and provide interoperability between financial institutions, businesses, and individuals. The IPS will be complemented by a robust Digital Wallet Solution, expanding access to efficient financial services for citizens and small enterprises.
A key aspect of the partnership is a shared commitment to enabling future cross-border payment integration—an essential strategic priority for BCTL and a critical step in the IPS journey.
Montran is also working with BCTL to develop a national strategy for introduction of a CBDC, known as eCentavos. This CBDC will enhance transparency and traceability of transactions, offer tools to reach underserved populations, and support evolution of the country's digital economy.
This new phase builds on an existing partnership between BCTL and Montran, which powers the bank's clearing and settlement platform—the R-Timor Automated Transfer System. Montran's deep expertise and ability to deliver secure, mission-critical infrastructure further positions this collaboration to deliver measurable impact.
"In an era where speed, security, and accessibility define financial services, we are honored to support BCTL's transformation," said Matt Walsh, Global Sales Director at Montran. "Together, we are laying the foundation for a modern, inclusive financial ecosystem in Timor-Leste."
Looking ahead, BCTL and Montran are exploring additional modernization opportunities, including the potential deployment of a Central Securities Depository and Trading Systems.
About Montran
Montran is the leading provider of Payment and Capital Market Infrastructure solutions, servicing the world's foremost financial institutions with mission-critical installations and operations in over 90 countries. Discover more at www.montran.com.
About Banco Central de Timor-Leste
Established in 2011, the Banco Central de Timor-Leste (BCTL) is the autonomous authority responsible for monetary policy, financial sector development, payment system oversight, and fostering financial inclusion to support national economic growth.
