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Indian Government to Launch CBDC-Based Public Distribution System Pilot using (Government of India)

India's Union Home Minister Amit Shah announced the February 16, 2026 launch of India's first central bank digital currency (CBDC)-based public distribution system pilot. It introduces subsidy transfers for foodgrains through the Reserve Bank of India's CBDC platform. Under the pilot phase, 26,333 families across the Sabarmati zone of Ahmedabad, Surat, Anand, and Valsad receive digital tokens in their wallets containing details of commodity, quantity, and price. Beneficiaries using smartphones authenticate transactions by scanning QR codes at fair price shops, while those with feature phones receive one-time passwords through an Aadhaar-based verification system. The programmable CBDC coupons can only be used to purchase specified foodgrains at authorized ration shops and cannot be converted to cash, creating a clear audit trail of grain movement and subsidy utilization. [Government of India]

#CBDC #India #Payments #Fintech #DFC

·pib.gov.in·Feb 14, 2026

Indian Government to Launch CBDC-Based Public Distribution System Pilot using (Government of India)

Madagascar Projet eAriary One Pager (BFM)

[October 19, 2020] Banky Foiben'i Madagasikara (BFM) published a one-pager on its e-Ariary central bank digital currency (CBDC) project. The project aims to affirm monetary sovereignty, ensure financial system stability, promote financial inclusion, control physical currency circulation, and establish a modern payment system in response to the global shift toward digital payments, cryptocurrencies, and new financial actors accelerated by COVID-19. The project follows a cautious two-phase approach: first conducting analysis, design, and experimentation, then proceeding to deployment only if the pilot phase proves successful, while carefully managing potential impacts on monetary and financial stability. [BFM]

#Fintech #CBDC #Madagascar #DFC

·banky-foibe.mg·Feb 13, 2026

Madagascar Projet eAriary One Pager (BFM)

European Parliament Votes for Online and Offline Digital Euro (Central Banking)

On February 10, 2025 the European Union (EU) Parliament has endorsed the digital euro initiative, reaching agreement with the European Council on creating a currency that will function both online and offline. They rejected an earlier proposal by the parliamentary rapporteur that would have restricted the digital euro to an offline version only (420 votes in favor, 158 against and 64 abstentions). Members of Parliament approved an amendment that stated that the central bank digital currency (CBDC) was “essential to strengthen EU monetary sovereignty, reduce fragmentation in retail payments, and support the integrity and resilience of the single market [as] the increasing digitalization of payments, if left exclusively to private and non-EU actors, risks creating new forms of exclusion for both users and merchants" (438 in favor, 158 against and 44 abstentions). https://www.europarl.europa.eu/doceo/document/TA-10-2026-0034_EN.html [Central Banking and European Parliament]

#CBDC #Eurozone #Fintech #ECB #Offline #DFC

·centralbanking.com·Feb 12, 2026

European Parliament Votes for Online and Offline Digital Euro (Central Banking)

Central Bank Digital Currency and Gresham's Law: An Experimental Analysis (SNB)

The Swiss National Bank (SNB) published a paper that examines how people use central bank digital currency (CBDC) versus risky bank deposits through a laboratory experiment. The researchers tested Gresham's law—the principle that "bad money drives out good"—by having participants allocate funds between a risk-free account (like CBDC) and a risky account (like bank deposits) that could lose 50% with 10% probability. Key findings show that when the risk-free account is unrestricted, people extensively hold and pay with it. However, when limited by a ceiling or negative interest rate, people tend to hoard the risk-free money as a store of value while using risky money for payments—confirming Gresham's law. The study concludes that mechanisms designed to limit CBDC holdings (necessary to protect the banking system) may undermine its effectiveness as a payment method, suggesting it may be better to build payment systems on existing bank deposits rather than CBDC. [Source: SNB]

#CBDC #Fintech #DFC #FinancialStability

·snb.ch·Feb 8, 2026

Central Bank Digital Currency and Gresham's Law: An Experimental Analysis (SNB)

CBDC and Monetary Sovereignty (CEPR)

This Centre for Economic Policy Research (CEPR) article argues that a central bank digital currency (CBDC) is not essential for maintaining monetary sovereignty, contrary to popular claims. The author contends that throughout history, monetary stability has relied on a hybrid system of publicly defined units of account backed by private money (like bank deposits), rather than universal access to public currency. True monetary sovereignty depends on the central bank's legal authority and its capacity to absorb risk through balance-sheet operations during crises, not on issuing retail digital currency. The article further distinguishes between money (the settlement asset) and payments (the transaction mechanism), arguing that concerns about foreign payment providers are payment system issues requiring regulatory solutions, not CBDC. [Source: CEPR]

#CBDC #ECB #Eurozone #Sovereignty #Fintech #DFC

·cepr.org·Feb 8, 2026

CBDC and Monetary Sovereignty (CEPR)

The Guardian view on Europe’s payments problem: sovereignty starts at the till (Guardian)

The Guardian argues that Europe should develop its own payment infrastructure to reduce dependence on US-controlled systems like Visa and Mastercard, especially given Donald Trump's willingness to use economic leverage against allies. The editorial points to India's Unified Payments Interface (UPI) as a model—a state-backed, low-fee digital payment system that has successfully reduced reliance on foreign card networks while enabling billions of instant mobile transactions monthly. While acknowledging implementation challenges in the EU's complex institutional landscape, the piece contends that creating a European payment system is essential for genuine sovereignty and strategic autonomy, particularly as China and India are already exporting their own domestic payment models globally.

#Sovereignty #Fintech #CBDC #Eurozone #DFC #FastPayments #Payments

·theguardian.com·Feb 8, 2026

The Guardian view on Europe’s payments problem: sovereignty starts at the till (Guardian)

Potential Implementation of Timor-Leste eCentavos (BCTL)

[September 6, 2024] Banco Central de Timor-Leste (BCTL) published its 2025-2035 Strategic Plan for Financial Sector Development in which it discussed its plans to possibly issue eCentavos central bank digital currency (CBDC), as part of its strategy to modernize the financial system, enhance payment efficiency, and promote financial inclusion. The project will follow a phased approach starting with a comprehensive feasibility study in 2025 that examines potential benefits, challenges, and lessons from other central banks' CBDC experiences. This may be followed by pilot testing in at least five municipalities in 2026, and full-scale implementation in 2028. The plan emphasizes the importance of assessing technological resilience, privacy and security concerns, user adoption, and interoperability with existing financial systems during the gradual rollout. [Source: BCTL]

#CBDC #Fintech #DFC #Timor-Leste

·bancocentral.tl·Feb 6, 2026

Potential Implementation of Timor-Leste eCentavos (BCTL)

BSP eyes CBDC for settling tokenized government bonds (GMA News)

The Bangko Sentral ng Pilipinas (BSP) is reportedly developing a second proof of concept for its wholesale central bank digital currency (CBDC) to settle government tokenized bonds, following the completion of Project Agila testing in 2024. According to BSP deputy governor Mamerto Tangonan, this initiative will provide a settlement instrument for the Bureau of the Treasury's tokenized treasury bonds (TTBs), which raised ₱10 billion from the domestic bond market using distributed ledger technology. The wholesale CBDC is intended for use by commercial banks and financial institutions for interbank payments, securities transactions, and cross-border payments, with the BSP planning to expand participation beyond the initial six banks in the next testing phase, though no specific timeline has been announced. [Source: GMA News]

#CBDC #Philippines #wCBDC #Settlement #Tokenization #DFC #Fintech

·gmanetwork.com·Feb 3, 2026

BSP eyes CBDC for settling tokenized government bonds (GMA News)

Understanding Disputes Over Digitalization: CBDC Cross-Border Perspectives (Emory Law)

The Emory International Law Review published a paper by Heng Wang that examines the complexity of disputes arising from digitalization through the lens of cross-border central bank digital currencies (CBDCs). The paper analyzes CBDC-related disputes using a three-dimensional framework: the social dimension (divergent state interests, approaches, and levels of commonality among jurisdictions); the material dimension (subject matter complexities involving data, technology, and parties' perceptions regarding dispute classification, risk tolerance, and market attitudes); and the temporal dimension (how technology and rule development evolve over time, creating legal vacuums and new challenges). The paper finds that dispute complexity stems from factors including regulatory inconsistencies across jurisdictions, technological uncertainties, varying privacy standards, interoperability challenges, and geoeconomic considerations. It argues that understanding these multifaceted dimensions is essential for developing effective dispute settlement mechanisms and governance frameworks as digitalization accelerates, particularly as CBDC networks expand and interconnect globally. [Source: Emory Law]

#CBDC #CrossBorder #Fintech #DFC #Legal

·scholarlycommons.law.emory.edu·Feb 3, 2026

Understanding Disputes Over Digitalization: CBDC Cross-Border Perspectives (Emory Law)

Crunchfish to Participate in BOE Digital Pound Lab (Crunchfish)

Crunchfish, a Swedish fintech company specializing in offline digital payment solutions, has been selected by the Bank of England (BOE) to participate in the Digital Pound Lab, an experimental initiative exploring potential use cases for a digital pound. The company will spend approximately three months developing proof-of-concept solutions focused on resilient digital payments and offline transaction functionality within the Lab's simulated environment, which includes APIs, wallets, and smart contract capabilities. Crunchfish will demonstrate how its offline-capable payment technology could contribute to future digital currency implementations, with participants potentially presenting their findings at a showcase event later in the year. [Source: Crunchfish]

#CBDC #Crunchfish #Sandboxes #UnitedKingdom #Fintech #Offline

·crunchfish.com·Feb 3, 2026

Crunchfish to Participate in BOE Digital Pound Lab (Crunchfish)

Central Bank of Iraq on Banking Reform, Digital Dinar, Dollar Transactions... (Iraq Business News)

[December 2, 2025] The Central Bank of Iraq (CBI) is reportedly developing a digital dinar project, although according to Governor Ali Mohsen Al-Alaqit, it requires significant time and infrastructure before launch. [Source: Iraq Business News]

#CBDC #Iraq #Fintech #DFC

·iraq-businessnews.com·Feb 3, 2026

Central Bank of Iraq on Banking Reform, Digital Dinar, Dollar Transactions... (Iraq Business News)

Digital Turkish Lira Second Phase Progress Report (CBRT)

[November 24, 2025] The Central Bank of the Republic of Türkiye (CBRT) published a progress report on the 2nd phase of its Digital Turkish Lira project, which will focus on developing programmable payments and offline payment capabilities while maintaining core principles of privacy, interoperability, and financial inclusion. The digital lira will operate through a two-tier system where the central bank issues the currency and financial intermediaries provide user access without the central bank storing user identity data. Key developments include payment templates and packages that enable automated, condition-based transactions integrated with digital identity verification, and offline payment functionality using smart cards and NFC technology to work without internet connectivity. The system is being designed for interoperability with digital assets, cross-border payment platforms, and existing financial infrastructure, with the goal of reaching a minimum viable product stage by the end of this phase before any potential circulation decision in a third phase. Similar to the first phase, pilot tests will also be conducted in the second phase. [Source: CBRT]

#CBDC #Turkey #Fintech #DFC

·tcmb.gov.tr·Feb 2, 2026

Digital Turkish Lira Second Phase Progress Report (CBRT)

Angolan Central Bank Exploring Central Bank Digital Currency (BNA)

[April 29, 2025] The Banco Nacional de Angola (BNA) revealed in its 2024 Annual Report that it concluded a preliminary study on central bank digital currency (CBDC), with the objective of evaluating the benefits and risks associated with different models, and analyzing potential implementation in the Angolan financial system. For 2025, the BNA will continue to monitor international CBDC projects, including exchanges with specialized institutions and central banks, with the aim of deepening knowledge and exploring possible paths for its eventual implementation. [Source: BNA] However, according to a Bloomberg Law article, the BNA has purportedly been exploring CBDC since at least 2022. [Source: Bloomberg Law]

#Fintech #CBDC #DFC #Angola

·bna.ao·Jan 31, 2026

Angolan Central Bank Exploring Central Bank Digital Currency (BNA)

Liberia's Central Bank Exploring Central Bank Digital Currency (CBL)

[May 5, 2025] The Central Bank of Liberia (CBL) revealed in its 2025-2029 Strategic Plan that it will explore the feasibility of introducing a central bank digital currency (CBDC) to enhance financial inclusion and modernize the financial system. CBL’s approach will include a feasibility study to assess the potential impact of a CBDC on Liberia’s monetary policy, financial stability, and payment systems, and engagement with key stakeholders, including financial institutions, government bodies, and the public, to gather insights and address concerns surrounding the introduction of a CBDC. Based on the findings of the research and studies, the CBL may consider launching a pilot CBDC program, initially targeting areas where traditional banking infrastructure is limited, to assess its viability in the Liberian context. This is in line with the medium-term goal of the Bank to digitalize the financial system and the economy at large and reduce the need for paper currency. [Source: CBL]

#Liberia #CBDC #DFC #Fintech

·cbl.org.lr·Jan 31, 2026

Liberia's Central Bank Exploring Central Bank Digital Currency (CBL)

Central Bank of Uzbekistan Explores Digital Som Pilot Project (UZ Daily]

[September 11, 2025] The Central Bank of Uzbekistan (CBU) is reportedly exploring the launch of digital som central bank digital currency (CBDC) and commercial bank-issued stablecoin pilot projects. Both retail and wholesale CBDCs are being considered. The stablecoin pilot would be conducted in a regulatory sandbox run by the National Agency for Advanced Projects, the central bank emphasizing the importance of strict reserve backing to avoid effectively creating additional money supply. [Source: UZ Daily]

#CBDC #Uzbekistan #Fintech #DFC

·uzdaily.uz·Jan 31, 2026

Central Bank of Uzbekistan Explores Digital Som Pilot Project (UZ Daily]

Central Bank of Uzbekistan Explores CBDC (Business & Finance Consulting)

[November 15, 2021] Speaking at the 2nd international PLUS forum ("FinTech without Borders: Digital Asia), Shukhrat Fayzullaev, deputy director of the Payment Systems Department of the Central Bank of Uzbekistan (CBU), reportedly spoke about the central bank's central bank digital currency (CBDC) pre-project study. The purpose of this study was to: (1) analyze the prerequisites and economic efficiencies of introducing a CBDC, (2) examine the experience of other countries that have introduced or are introducing CBDCs and (3) assess the technical, human and financial resources that will be required to develop a CBDC. [Source: Business & Finance Consulting]

#CBDC #Fintech #DFC #Uzbekistan

·bulletins.bfconsulting.com·Jan 31, 2026

Central Bank of Uzbekistan Explores CBDC (Business & Finance Consulting)

Digital Currencies Impact on Financial Stability and Financial Cycle (Bank of Albania)

[February 11, 2022] The Bank of Albania published a paper that examines the impact on financial stability and financial cycles of crypto-assets, stablecoins, and central bank digital currencies (CBDC). Since then, it seems the Bank of Albania hasn't done any more work on the CBDC topic. [Source: Bank of Albania]

#Albania #Fintech #CBDC #DFC

·bankofalbania.org·Jan 31, 2026

Digital Currencies Impact on Financial Stability and Financial Cycle (Bank of Albania)

Central Bank of the Barbados was Researching CBDC in 2020 (CBB)

[July 1, 2000] The Central Bank of the Barbados (CBB) hosted a seminar of central bank digital currency (CBDC) at which Governor Cleviston Hayne revealed that the CBB the CBB was researching CBDCs. In attendance were representatives from the Bahamas, Canada and the Eastern Caribbean Central Bank (ECCB). However, there has been no public follow-up on the central bank on the topic. [Source: CBB]

#CBDC #DFC #Fintech #Barbados #FastPayments

·centralbank.org.bb·Jan 31, 2026

Central Bank of the Barbados was Researching CBDC in 2020 (CBB)

Bank of Mauritius Calls for Participation in Projects for its Innovation Hub (BoM)

[August 23, 2024] The Bank of Mauritius announced the upcoming launch of its Innovation Hub, inviting interested participants to register for fintech solution development projects, including Suptech/Regtech and central bank digital currency (CBDC). This collaborative platform aims to foster cutting-edge innovations for the financial, banking, and regulatory sectors in Mauritius and the region by bringing together diverse stakeholders including entrepreneurs, industry experts, technology providers, regulators, academia, and students. The initiative is designed to accelerate the growth of the fintech ecosystem by leveraging the collective expertise and creativity of these key players. [Source: BoM]

#Fintech #Mauritius #Innovation #Sandboxes #CBDC #DFC #RegTech #SupTech

·bom.mu·Jan 31, 2026

Bank of Mauritius Calls for Participation in Projects for its Innovation Hub (BoM)

Bank of Mauritius Progresses its CBDC POC Work (BoM)

[January 10, 2024] The Bank of Mauritius (BoM) has progressed on its research for the potential implementation of a digital rupee retail central bank digital currency. In this respect, the BoM has embarked on a proof-of-concept (POC) project starting with one commercial bank, There are other POCs in the pipeline, and other commercial banks and members of the public will be invited to join the pilot in due course. [Source: BoM]

#CBDC #Mauritius #Fintech #DFC

·bom.mu·Jan 31, 2026

Bank of Mauritius Progresses its CBDC POC Work (BoM)

Digital Pound Lab: Phase 1 Update: Overview of First Round of Use Cases (BOE)

The Bank of England (BOE) Digital Pound Lab Phase 1 has completed, showcasing various demonstration use cases for U.K. retail payments infrastructure. The BOE developed several core capabilities including verifiable credentials for privacy-preserving identity verification, payment requests via QR codes, digital cheques, allowances for delegated spending, e-commerce integrations with delivery-versus-payment features, and blockchain interoperability. External participants (Fluxpay Limited; LINK, in collaboration with Consult Hyperion; NOBO Finance, in collaboration with Applied Blockchain; and Yotra Limited) tested additional use cases such as tiered wallets, tourist wallets, point-of-sale payments, and conditional business-to-business payments. Phase 2 is now underway with applications open until March 2026, aiming to explore more innovative payment services that don't currently exist, with a showcase event planned for July 2026. [Source: BOE]

#CBDC #Fintech #Sandboxes #UnitedKingdom #DFC

·bankofengland.co.uk·Jan 30, 2026

Digital Pound Lab: Phase 1 Update: Overview of First Round of Use Cases (BOE)

ECB Calls for Experts to Explore Roles of Digital Euro Technical Service Providers (ECB)

The European Central Bank (ECB) is inviting technical service providers (TSPs) from the EU to participate in two expert-level workshops in early March 2026 focused on their role in supporting market readiness for a potential digital euro. Following the October 2025 announcement of the digital euro project's next phase, which includes a pilot starting in the second half of 2027 and potential first issuance in 2029, these half-day workshops will explore how TSPs can support payment service providers in both distribution and acquiring/acceptance activities. Interested TSPs must apply by February 10, 2026, and participants will be selected based on factors including their EU establishment, relevant experience, and technical capabilities, with the goal of creating balanced and representative workshop groups that will help inform the upcoming digital euro pilot activities. [Source: ECB]

#CBDC #ECB #Eurozone #Fintech #DFC

·ecb.europa.eu·Jan 30, 2026

ECB Calls for Experts to Explore Roles of Digital Euro Technical Service Providers (ECB)

CBDCs and Liquidity Risks: Evidence from the SandDollar’s Impact on Deposits and Loans in the Bahamas (MDPI)

MDPI published a study that evaluates the early impact of Central Bank Digital Currencies (CBDCs) on key financial indicators in The Bahamas, focusing on the introduction of the SandDollar—the world’s first fully implemented retail CBDC. Using the Synthetic Control Method (SCM), the analysis constructs counterfactual scenarios to assess the effects of CBDCs on three dependent variables: outstanding loans from commercial banks as a percentage of GDP, outstanding deposits as a percentage of GDP, and the number of deposit accounts per 1000 adults. Three separate SCM models were estimated for the period 2014–2024, incorporating a broad set of control variables reflecting financial infrastructure, economic performance, demographic characteristics, and digital readiness. The findings consistently show that the SandDollar’s implementation is associated with reductions in loan issuance, deposit levels, and deposit account ownership compared to their synthetic counterparts. These results support the hypothesis that direct CBDC models may amplify “deposit substitution” and increase liquidity risks by shifting financial activity away from commercial banks. Although the SCM provides a structured causal framework, the short post-treatment period and potential pandemic-related disruptions limit the scope of a long-term understanding. (Source: MDPI)

#CBDC #Bahamas #Fintech #DFC #FinancialStability

·mdpi.com·Jan 21, 2026

CBDCs and Liquidity Risks: Evidence from the SandDollar’s Impact on Deposits and Loans in the Bahamas (MDPI)

India's Central Bank Proposes Linking BRICS' Digital Currencies (Reuters)

The Reserve Bank of India (RBI) has reportedly recommended that the Indian government place a proposal to interconnect BRICS central bank digital currencies (CBDCs) on the agenda for the 2026 BRICS summit, which India will host. The proposal aims to facilitate cross-border payments for trade and tourism among BRICS members, potentially reducing reliance on dollar-based settlement systems, though the RBI maintains its efforts are not directed toward de-dollarization. Implementation would require resolution of several technical and political challenges: none of the BRICS states has fully deployed a retail CBDC beyond pilot programs, and any operational framework would necessitate consensus on interoperable technology standards, governance structures, and mechanisms to manage trade imbalances—a problem illustrated by earlier Russia-India local-currency trade arrangements where Russia accumulated large rupee balances with limited deployment options. The sources indicated that bilateral foreign exchange swap arrangements between central banks, with weekly or monthly settlements, are under consideration as one potential solution, though they cautioned that member states' reluctance to adopt technology platforms developed by other countries could impede progress. The initiative builds on the 2025 Rio declaration calling for payment system interoperability among BRICS members and would mark the first formal presentation of a CBDC linkage proposal at a BRICS leaders' meeting, though previous ambitious BRICS initiatives, including proposals for a common BRICS currency, have failed to materialize. [Source: Reuters]

#BRICS #CrossBorder #Payments #CBDC #India #DFC #Fintech

·reuters.com·Jan 20, 2026

India's Central Bank Proposes Linking BRICS' Digital Currencies (Reuters)

ECB to Launch a Digital Euro Proof-of-Concept in 2027 (ECB)

The European Central Bank (ECB) published a presentation of its plans for a digital euro proof-of-concept (POC) program starting in H2 2027. The 12-month POC will involve a limited number of payment service providers (PSPs), merchants, and approximately 5,000-10,000 Eurosystem staff testing four use cases: person-to-person and person-to-business transactions using both online (alias/access number, e-commerce) and offline near-field communication (NFC) methods. The ECB will launch a call for expression of interest in March 2026 to select participating PSPs based on technical capabilities, market reach, and geographical representation. During the POC, transactions will use a digital means of payment that mimics the digital euro's characteristics but won't have legal tender status, operating under the Revised Payment Services Directive (PSD2) framework. [Source: ECB]

#CBDC #ECB #Eurozone #Fintech #DFC

·ecb.europa.eu·Jan 19, 2026

ECB to Launch a Digital Euro Proof-of-Concept in 2027 (ECB)

Kazakhstan's Digital Tenge CBDC Officially Launched (NBRK)

The National Bank of the Republic of Kazakhstan (NBRK) announced that its digital tenge central bank digital currency (CBDC) has officially launched. The digital tenge is now legal tender in Kazakhstan, with the NBRK as the sole issuer, and interaction with it facilitated through financial market participants. [Source: NBRK]

#Kazakhstan #Fintech #CBDC #DFC

·nationalbank.kz·Jan 16, 2026

Kazakhstan's Digital Tenge CBDC Officially Launched (NBRK)

eCurrency to Facilitate the Development of CBDC in Malawi (eCurrency)

eCurrency Mint has been selected by the Reserve Bank of Malawi (RBM) to develop and experiment with central bank digital currency (CBDC) technology in the country. The project will utilize eCurrency's Digital Symmetric Core Currency Cryptography (DSC3) technology. DSC3 utilizes symmetric key cryptography along with layers of digital security to ensure that the resultant cryptographic objects, i.e. digital bearer instruments in the form of a cryptogram, are protected from counterfeiting. DSC3 supports a two-tier architecture and public-private partnership in which the central bank is the sole issuer of CBDC, while private sector payment networks enable its distribution, storage and transaction. [Source: eCurrency]

#CBDC #eCurrency #Malawi #Fintech #DFC

·prnewswire.com·Jan 15, 2026

eCurrency to Facilitate the Development of CBDC in Malawi (eCurrency)

CBDCs versus Instant Payments (Central Banking)

Central Banking published an article that discusses the global trend of central banks prioritizing instant payment systems over central bank digital currencies (CBDCs) for improving domestic and cross-border payments, with 93.6% of surveyed central banks favoring instant payments domestically and 95.5% for cross-border transactions. While both technologies offer similar benefits like real-time transactions, instant payment systems are generally less complex and costly to implement than CBDC infrastructure, though CBDCs use central bank money rather than commercial bank money. Countries like the Bahamas, Jamaica, and Nigeria launched CBDCs primarily to address financial inclusion and outdated payment systems, but have faced adoption challenges, while successful instant payment systems like Brazil's Pix and India's UPI have proven highly effective. Experts suggest that for most jurisdictions, instant payment systems combined with digital identity frameworks provide sufficient solutions for retail payments, though CBDCs may have specific use cases in wholesale payments, cross-border transactions, or as backups to existing systems. The main challenges for both approaches include scalability issues for cross-border linkages, disintermediation risks for banks, and the need for harmonized legal and regulatory frameworks across jurisdictions. [Source: Central Banking]

#CBDC #FastPayments #Payments #Fintech #DFC

·centralbanking.com·Jan 15, 2026

CBDCs versus Instant Payments (Central Banking)

Ethiopia Unveils 5-Year National Digital Payment Strategy (NBE)

[December 9, 2025] The National Bank of Ethiopia (NBE) Ethiopia published a draft National Digital Payment Strategy 2026–30. The five-year framework outlines a roadmap to build a trusted, innovative, and integrated digital payments ecosystem. Part of the study involves studying stablecoins, cryptocurrencies, and central bank digital currency (CBDC), map their current use in Ethiopia, and identify concrete, locally viable use-cases for future policy and product development. Furthermore, white papers will be published and, if deemed necessary, required regulatory frameworks and pilot programs will be implemented. [Source: NBE]

#Ethiopia #Fintech #CBDC #DFC

·nbe.gov.et·Jan 11, 2026

Ethiopia Unveils 5-Year National Digital Payment Strategy (NBE)

Lessons from Global CBDC Pioneers for Rwanda's Next Leap (RBA)

The Rwanda Bankers' Association (RBA) published an analysis of pioneering central bank digital currency (CBDC) implementations in the Bahamas (Sand Dollar), Jamaica (JAM-DEX), and Nigeria (eNaira). Using quantitative pre- and post-launch data analysis, the study finds that theoretical fears of bank disintermediation did not materialize—commercial bank deposits actually grew significantly in all three countries after CBDC introduction. The research reveals that CBDC rollouts coincided with broader macroeconomic shifts including tighter monetary policy and economic rebounds, while direct effects on inflation remained statistically insignificant. However, the primary challenge across all cases was achieving widespread public adoption rather than financial instability, with uptake remaining extremely low despite technical readiness. The paper concludes that for Rwanda, currently in its CBDC Proof-of-Concept phase, success will depend less on mitigating theoretical risks and more on delivering a compelling value proposition that addresses the country's specific challenges including limited smartphone ownership (34.3%), low internet access (29.8%), and the need for enhanced payment system resilience, financial inclusion, and reduced cross-border remittance costs. [Source: RBA]

#CBDC #Rwanda #Fintech #FinancialStability #DFC

·rba.rw·Jan 3, 2026

Lessons from Global CBDC Pioneers for Rwanda's Next Leap (RBA)