The kingdom of Eswatini is considering the introduction of a central bank digital currency.
Giesecke+Devrient (G+D) has been hired by the Central Bank of Eswatini to research and explore the possibilities of a digital Lilangeni.
Design concept, governance, accessibility, interoperability, security and programmability are some of the considerations that will be involved in the project. The best ways to roll out the e-currency will be helped by the consultants.
The strongest and direct opportunity for the adoption of a digital currency in Eswatini was presented by the first phase of a 2020CBDC Diagnostic study.
The Central Bank of Eswatini has engaged G+D as a technical consultant to walk with them as they explore and formulate the policy considerations and use cases of a localCBDC. "We are confident that G+D's technological expertise and their strong regional presence will allow us to realize all possible advantages of a Digital Lilangeni and ensure we're fully equipped to issue aCBDC in the future."
The second country after Nigeria to run a retailCBDC was assisted by G+D. By August 2022, eNaira had been used to carry out transactions worth 4 billion. Some of the other African countries want to use digital currencies to improve their access to financial services, cost reductions, interoperability and enhanced cross-border payments.
Unlike Cryptocurrencies, theCBDCs are developed by central banks and are pegged to the country's currency.
After Zambia, Kenya explores possibility of a digital currency
Nigeria follows China’s footsteps in piloting digital currency
All Rights Reserved © 2024
