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Wednesday, October 01, 2025
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Crunchfish and CMA Small Systems Enter Strategic Partnership

Crunchfish AB and CMA Small Systems (CMA) have entered a strategic partnership to deliver next-generation financial infrastructure solutions for central banks and financial institutions worldwide. By combining Crunchfish’s pioneering Digital Cash technology with CMA’s experience in mission-critical systems, the partnership will enable payment ecosystems that are secure, modern, and resilient both online and offline. 

The collaboration between Crunchfish and CMA has already started with a joint project focused on supporting offline payments. This will expand the reach of CMA’s Instant Payment System (IPS) solutions, already operating in 12 countries, while also providing a contingency layer for national payment infrastructures to ensure continuous operation and uninterrupted payments, even in the event of connectivity issues or system disruptions. 

CMA brings a proven track record of delivering hundreds of successful projects across 58 countries. Its systems are trusted by more than 55 central banks and 1,500 commercial banks. Its portfolio includes RTS/X (RTGS), IPS/X (Instant Payments), BCS/X (ACH), TMS/X (Transaction Hub), DEPO/X (Depository & Registry), and TRAD/X (Trading Platform). These solutions power payments and capital markets infrastructures across Africa, Asia, the Middle East, Europe, and the Americas.

Together, Crunchfish and CMA aim to deliver solutions that work seamlessly both online and offline to public sector financial authorities as well as commercial payment networks, banks and payments application providers, making them resilient, and ready for the demands of a future digital economy. 

“This partnership combines innovation with proven infrastructure. By bringing Crunchfish’s Digital Cash technology together with CMA’s experience across central banks and financial market infrastructures, we are ready to help financial authorities and institutions build resilient, future-ready ecosystems”, says Maxim Neshcheret, CMA’s Regional Director for Asia-Pacific and Central Asia.

“Partnering with CMA unlocks business opportunities. Their deep experience with central bank systems and international track record makes them a great partner as we move into largescale public sector payment infrastructure projects. Together, we can set a new resilient standard in the payment industry”, says Joachim Samuelsson, Crunchfish’s CEO.

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