The Global VC

EMTECH Helps Build Modern Financial Market Infrastructures in Emerging Markets

The financial market infrastructure in emerging markets is not always able to support all citizens.

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Clayton Bryan

Clayton Bryan

Partner at 500 Global





The financial market infrastructure in emerging markets is not always able to support all citizens. Worldwide, there are 1.7 billion adults who are unbanked, causing a problem in need of an immediate solution to prevent economic inequities. We believe Central Bank Digital Currencies (CBDC) could offer central banks more favorable economics and control versus a private coin, which is why we’re excited about EMTECH which is bringing innovation to central banking.

The Nuts & Bolts 

Problem: Covid-19 has sent a shock through our global financial markets, causing both long-term and short-term ramifications.  We are now faced with extreme changes in behavior, standards, and a recession that is disproportionately affecting the most vulnerable. Central banks are considering other tools to serve their populations better. 

Solution: EMTECH’s focus is to help central banks deploy modern financial systems powered by digital currency. The company helps to build modern financial market infrastructure for inclusion and resilience in emerging markets. 

When 500 Met EMTECH 

We met the EMTECH team during open office hours, and the team has extensive experience in this space. Carmelle Cadet is the Founder and CEO of EMTECH, having spent ten years at IBM, the last two spent on blockchain projects. At IBM, she came across the CBDC thesis and led the charge of building relationships with central banks. 

The CTO of EMTECH, Evgeni Mitkov, has been building fintech products in New York since 2014, founding two companies in this space. Diane R. Maurice is the Chief Policy and Risk Officer at EMTECH, formerly of the Federal Reserve Bank of San Francisco and the Central Bank of Tunisia. She is also the author of a book on Fintech and Regulation. The team also includes a blockchain architect, a full stack engineer, and a blockchain developer. 

EMTECH fits in well to our ESG criteria. The company’s advisory board is made up of 100% women, and women hold more than 50% of both managerial and C-suite positions. They also work towards the UN’s Sustainable Development Goal #9 (“Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation”).

Why Now?

Dante Disparte, who’s the Vice Chair and Head of Policy at Libra Association, says that  “blockchain-based payment systems can bring the more than 1.7 billion people who are unbanked or underbanked (including 25% of U.S. households), into the formal economy.” 

He notes that a large percentage of central banks are currently unable to support those that depend on them the most, and are exploring CBDCs. 

Christine Lagarde, President of the European Central Bank, thinks that countries with unstable currencies could resort to virtual currencies, as opposed to adopting for instance the U.S. dollar. 

The trend of CBDCs is growing. A group of current and former central bank chiefs and private sector bankers recently published a report on the topic. The Bank for International Settlements plans to set up an Innovation Hub in several cities to identify trends in financial technology. The Fed is also exploring CBDCs and sees them as complementary to cash. 

We believe that EMTECH is uniquely positioned as a technology and services company to help central banks in emerging markets build modern financial systems with blockchain, data analytics, and artificial intelligence.  

Future of EMTECH 

The digitization of sovereign currencies with blockchain and distributed ledger technology is unlocking efficiencies in governance, payments, compliance, and financial inclusion.

EMTECH’s solution could help central banks deploy modern financial systems powered by digital currency.

You can learn more about EMTECH at

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Clayton Bryan

Clayton Bryan

Partner at 500 Global

Clayton Bryan is an early stage venture investor and operator. Currently a Partner at 500 Global, Clayton has spent time at some of the most innovative companies in Silicon Valley. He has built expansive online communities, scaled marketplace businesses, and facilitated million dollar deals. At Yahoo he worked on award winning products. Later, at Payvment, he helped a team pioneer a new set of tools that started the social commerce movement. With Diversity as a guiding principle, Clayton has spent the entirety of his career within venture capital focused on supporting underrepresented founders. In 2016, Clayton and four others launched a non-profit organization, Transparent Collective, tasked with coaching and connecting underrepresented founders with investors. Companies to have gone through Transparent Collective's program have raised tens of millions of dollars in early stage financings. Clayton has invested in over 30 companies, including Printify, Public Goods, Silk+Sonder, Blue Wire, Fintor, Neon Financial, Hamama, EcoCart, JusticeText, Pariti, and Kiira. He Received a Bachelors of Arts in Political Economy from The University of California, Berkeley and his Masters of Business Administration from The Stern School of Business at New York University.