In Zimbabwe, the CBDC study has begun
The Chairman of the Central Bank said that a special fintech group was created to work on the initiative
![In Zimbabwe, the CBDC study has begun](https://storage.getblock.net/source/1/G7vw4E2IfA-nySomZFgHkSQ0Ea2hAYXV.png)
07.12.2021 - 11:50
493
1 min
0
What’s new? The Central Bank of Zimbabwe has started exploring the scope of a central bank digital currency (CBDC). This information was shared by the regulator's chairman John Mangudya.
Interview with Mangudya on YouTube
What does the chairman say? Mangudya added that the special fintech group was created to work on the initiative. He said that the Zimbabwean government intends to send a separate team to Nigeria to study the country’s experience, which has already launched CBDC. The state became the first in Africa to announce the release of a digital currency at the end of October 2021:
“As a central bank, we don’t believe in cryptocurrencies. We believe in central bank digital currency,” the chairman noted.
What had happened before? In mid-November, Zimbabwe's Information Minister Monica Mutsvangwa explained that the state government is interested in experimenting with the central bank’s digital currency. The authorities in many African countries are now considering CBDC as a tool to accelerate the implementation of their financial inclusion initiatives. Ghana, Tanzania, and Nigeria have recently joined the list.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024