Uganda pilots CBDC in $5.5B tokenized economy initiative with Global Settlement Network

Global Settlement Network and Uganda’s Diacente Group are launching a $5.5 billion tokenized economy, combining real-world infrastructure and a national CBDC to drive economic growth.

According to a press release shared with crypto.news, Global Settlement Network (GSN), a leading blockchain infrastructure provider, has partnered with Uganda’s Diacente Group to launch a $5.5 billion tokenized economy in Africa. The initiative will digitize real-world infrastructure assets owned and managed by Diacente Group—including agro-processing hubs, mining operations, and solar energy plants—creating a fully integrated digital economy.

The Karamoja Green Industrial and Special Economic Zone (GISEZ), developed and managed by Diacente Group, will serve as the flagship of the effort, providing the physical infrastructure to be tokenized.

As part of the rollout, Uganda has launched its first Central Bank Digital Currency, a digital version of the shilling backed by government bonds. The CBDC, deployed on GSN’s permissioned blockchain, is accessible via smartphones and USSD, enabling over 40 million people to conduct secure, digital transactions for the first time. The system follows full regulatory compliance, including KYC and AML protocols.

The initiative is noteworthy not just because Uganda is joining a growing number of countries piloting a national CBDC, but more importantly because it aims to build a fully digital economy that advances the nation’s development goals. Specifically, the project is aligned with Uganda’s Vision 2040, the African Union’s Agenda 2063, and the African Continental Free Trade Area (AfCFTA). It is expected to create over one million jobs and generate up to $10 billion in annual exports.

“This partnership goes beyond infrastructure; it’s about unlocking long-term value for our people and our region,” said Edgar Agaba, Chairman of Diacente Group. “By integrating tokenization and CBDCs into Uganda’s development roadmap, we’re creating transparent, tech-driven ecosystems that attract new capital, empower local industries, and scale sustainable growth from the ground up.”