Global Settlement Network and Diacente Group have launched a USD 5.5 billion tokenised economy in Uganda, featuring a pilot CBDC and blockchain-based industrial infrastructure.
The project, valued at approximately USD 5.5 billion, aims to digitise sectors such as agriculture, mining, and renewable energy through blockchain-based infrastructure. A central feature of the initiative is the pilot launch of Uganda’s first central bank digital currency (CBDC), issued on GSN’s permissioned blockchain and backed by government treasury bonds. The digital shilling will function within a regulated framework and comply with Know Your Customer and anti–money laundering standards. Access will be available via mobile phones and USSD technology, allowing millions of users to participate in digital transactions without traditional banking infrastructure.
Digital currency pilot and tokenised assets
GSN officials stated that the tokenised model would allow governments, institutions, and individuals to engage more directly in national development, providing alternative channels for capital formation and reducing the need for intermediaries. The company views the initiative as a practical approach to linking real-world assets with programmable digital systems.
Representatives from Diacente Group described the collaboration as part of an effort to integrate blockchain and tokenisation into Uganda’s long-term industrial strategy. The group emphasised that embedding these technologies in local economic planning could help attract investment and promote transparent, tech-driven growth.
The programme aligns with Uganda’s Vision 2040 and the African Union’s Agenda 2063, as well as objectives set by the African Continental Free Trade Area (AfCFTA). The Karamoja Green Industrial and Special Economic Zone, managed by Diacente Group, has been designated a national flagship project under the Karamoja Regional Development Plan (2025–2035). Estimates cited by the official press release suggest the initiative could generate over one million jobs and produce up to USD 10 billion in annual export potential.
