Bank of Uganda Reportedly Commences CBDC Study
The Bank of Uganda (BOU) has commenced a study that explores the feasibility of issuing a digital currency. However, an executive with the institution warned that the central bank needed to be clear why it must have this in the first place. Faster Movement of Money The Ugandan central bank is reported to have commenced studying the feasibility of issuing a CBDC that will be used by households and businesses. In addition, the BOU is reportedly planning to revise the country’s financial laws. The move enables the BOU to formally adopt the CBDC. This central....
Related News
The South African Reserve Bank (SARB) says it has commenced a feasibility study for a general-purpose retail central bank digital currency (CBDC). The study, which the SARB expects to conclude in 2022, will focus on the issuance of a domestic CBDC that can be used by consumers in South Africa for general retail purposes. Study to Focus on Retail CBDC In a statement released on May 25, 2021, the central bank says the feasibility study will include practical experimentation across different emerging technology platforms. The study will take into account a variety of factors, including....
The Bank of Uganda has advised members of the Blockchain Association of Uganda to understand more about cryptocurrency sector. The bank has stated that it will be glad to work with crypto platforms in its forthcoming Regulatory Sandbox. It referenced a meeting between both parties early last month in a letter addressed to Kwame Rugunga, […]
The Bank of Zambia has said it expects to complete its study seeking to determine the feasibility of launching a Central Bank Digital Currency (CBDC), before the end of the last quarter of 2022.
Narrowing the Financial Exclusion Gap
The Zambian central bank has said it expects to complete a research study that explores the benefits of launching a central bank digital currency (CBDC) in Q4 of 2022. The bank, which has been weighing the pros and cons of creating a digital currency, says the findings of this study will help it to determine whether is it beneficial to launch the....
The central bank wants to learn from private-sector digital currencies — but still believes they are inferior to central bank money. Philippine central bank governor Benjamin Diokno has announced that the institution's "exploratory" study of central bank digital currency study suggests that much more work is needed to make a digital peso a reality.During the summer, Bangko Sentral ng Pilipinas had confirmed it was investigating the feasibility and potential policy implications of issuing its own CBDC, or digital counterpart to the physical peso.In a press briefing, Diokno reportedly....
The results of a new study from the Bank of Thailand point to three key considerations for making sure a retail central bank digital currency doesn't adversely impact financial stability. The Bank of Thailand has published the results of a new study into how to manage the implications of issuing a retail central bank digital currency (CDBC) for the country’s financial sector.As distinct from a wholesale CBDC, which is limited to use by financial institutions and intermediaries, a retail CBDC is widely available for use by the general public. The Bank of Thailand, like many other central....