Rwanda To Develop Its Central Bank Digital Currency In Two Years
Rwanda is looking to develop its own national Central Bank Digital Currency (CBDC) in the next two years, as part of the country’s efforts to streamline its financial system and position itself as an important player in the future of the global economy.
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The national digital currency, according to the National Bank of Rwanda (BNR), would offer Rwandans a safe, free, and easy alternative to physical cash.
It would also expand financial inclusion by enabling more unbanked populations to participate in the formal economy.
In an interview, Soraya Hakuziyaremye, the Deputy Governor at Rwanda’s Central Bank outlined the necessary steps to adopt a national currency and the potential benefits for the public.
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Some countries are currently exploring CBDCs with some currently in research or pilot phases. Nigeria so far is the only country to launch its eNaira currency.
Source: New Times
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