The South African Reserve Bank found no short-term need for a retail CBDC, saying wholesale or cross-border uses should be explored instead. The South African Reserve Bank (SARB) says it doesn’t see a need for a central bank digital currency (CBDC) in the near-term, instead saying the country should modernize its payments system.The South African central bank said in a paper released on Thursday that there was no “strong immediate need” for a retail CBDC, though deploying one was technically feasible.It said that existing initiatives, such as a program to modernize the payments system and expand non-bank participation in the national payment system, should remain the priority for now.Read more The South African Reserve Bank found no short-term need for a retail CBDC, saying wholesale or cross-border uses should be explored instead. The South African Reserve Bank (SARB) says it doesn’t see a need for a central bank digital currency (CBDC) in the near-term, instead saying the country should modernize its payments system.The South African central bank said in a paper released on Thursday that there was no “strong immediate need” for a retail CBDC, though deploying one was technically feasible.It said that existing initiatives, such as a program to modernize the payments system and expand non-bank participation in the national payment system, should remain the priority for now.Read more
South Africa’s central bank says no ‘strong immediate need’ for CBDC
The South African Reserve Bank found no short-term need for a retail CBDC, saying wholesale or cross-border uses should be explored instead.
The South African Reserve Bank (SARB) says it doesn’t see a need for a central bank digital currency (CBDC) in the near-term, instead saying the country should modernize its payments system.
The South African central bank said in a paper released on Thursday that there was no “strong immediate need” for a retail CBDC, though deploying one was technically feasible.
It said that existing initiatives, such as a program to modernize the payments system and expand non-bank participation in the national payment system, should remain the priority for now.
Read more
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