Digital Currency Round-Up

Latest CBDC Plans

Qatar: The Qatar Central Bank (QCB) is investigating both a CBDC and using a regulatory sandbox to test other fintech solutions. A regulatory sandbox is a space in which fintech firms can test new products, services, business models and delivery mechanisms in a real-world setting while benefiting from an accelerated authorisation process and supervisory monitoring. No decision has been taken about a CBDC.

Uganda: The Bank of Uganda (BOU) has started to explore the viability of issuing a CBDC. This would require a revision to the financial laws. Uganda has 32 million mobile money payment accounts and a population of 45 million people. Two thirds of those accounts are estimated to be active. Uganda has a GDP per capita lower than the other African countries currently exploring CBDCs, ie. Nigeria, Ghana and Kenya.