Bank of Zambia Expects to Complete CBDC Study in Q4 – Emerging Markets Bitcoin News - BitcoinEthereumNews.com
The Bank of Zambia has said it expects to complete its study seeking to determine the feasibility of launching a Central Bank Digital Currency (CBDC), before the end of the last quarter of 2022. Narrowing the Financial Exclusion Gap The Zambian central bank has said it expects to complete a research study that explores the benefits of launching a central bank digital currency (CBDC) in Q4 of 2022. The bank, which has been weighing the pros and cons of creating a digital currency, says the findings of this study will help it to determine whether is it beneficial to launch the CBDC or not. According to a Bloomberg report, the Bank of Zambia, like some of its peers on the African continent, wants to launch a digital currency because it believes this has the potential to narrow the financial exclusion gap and reduce transaction costs. However, before launching the CBDC, the central bank said it needs to understand the studys findings. “The results of the research will form part of the input in the policy considerations on whether to introduce a central bank digital currency in Zambia,” explained Nkatya Kabwe, the central banks acting director of communications. Cryptos Not Legal Tender Besides potentially boosting the