Digital currency to be launched in Africa

The head of the Bank of Central African States (BEAC) has proposed launching a single digital currency, all to modernize payments and expand access to financial services for African citizens.

According to the head of BEAC, Hervé Ndoba, the digital Central African franc will simplify and speed up payments in the countries that are part of the Economic Community of Central Africa. Ndoba believes that it is necessary to start developing regulations for the introduction and regulation of CBDC circulation as soon as possible.

In early July, President of the Central African Republic Faustin-Arcange Touadera launched the country’s national cryptocurrency, Sango Coin. Earlier, the Central African Republic became the first country on the African continent to legalize bitcoin and recognize it as an official means of payment.