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25 June 2021

Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System – Fintech Bitcoin News

Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System – Fintech Bitcoin News


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Members of East Africa Community Explore Potential Use of CBDC for Alternative Regional Payment System – Fintech Bitcoin News.

Six East African states are reportedly set to explore the possibility of using central bank digital currencies (CBDC) as an alternative to their shared payment system.

The revelations of the EAC’s digital currency plan follow the bloc secretariat’s “consultancy call for a feasibility study” on the planned upgrade of the East African Payment System (EAPS).

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