Rwanda’s Central Bank explores options for launching CBDC
The research is scheduled to be completed in December 2022
03.03.2022 - 10:00
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What’s new? The AllAfrica portal has published a piece on the launch of its own national digital currency by Rwanda’s Central Bank. A CBDC called the Rwandan franc can be launched as early as 2023 if the regulator decides that it is appropriate to use in the country.
What is known about the digital Rwandan franc? According to the industry’s representatives, the launch of CBDC will allow Rwanda to improve the security of its financial system and become an important player in the international economy. Currently, the regulator, together with local companies, conducts research and tests of the asset, including an analysis of possible risks.
The final stage of research is scheduled for December 2022. After that, the Central Bank should make a final decision on the launch. In this, the Deputy Governor of the Central Bank of Rwanda, Soraya Hakuziyaremye, says that the digital barrier between the new asset and the country’s population has to be removed.
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