Tanzania Plans to Launch CBDC After eNaira Launch: Report

Posted on by American Coins & Gold

Tanzania Plans to Launch CBDC After eNaira Launch: Report
Tanzania is preparing to launch a digital form of its local currency, the Tanzanian shilling, the governor of the Bank of Tanzania said, according to a Bloomberg report.The country will follow in Nigeria’s footsteps and launch its own digital currency, Florens Luoga, announced last Thursday.Nigeria launched its eNaira in October this year, making it the first African country to issue its own digital money.Luoga said that the move to launch a central bank digital currency (CBDC) is to ensure that Tanzania is not left behind in CBDC adoption.”The Bank of Tanzania has already begun preparations to have its own CBDC,”…