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Bank of Ghana and G+D to pilot CBDC in Ghana

Thursday 12 August 2021 11:22 CET | News

The Bank of Ghana has partnered with Giesecke+Devrient(G+D) to pilot a general purpose Central Bank Digital Currency (retail CBDC) in Ghana.

 

G+D is providing the technology and developing the solution, adapted to Ghana’s requirements, which will be tested in a trial phase with banks, payment service providers, merchants, consumers and other relevant stakeholders.

To this end, the Bank of Ghana has signed an agreement with G+D to implement a pilot CBDC project as a precursor to issuance of a digital form of the national currency, the Cedi. The project is part of the 'Digital Ghana Agenda', which involves the digitisation of the country of 30 million people and its government services.

The digital Cedi, or 'e-Cedi', is intended to complement and serve as a digital alternative to physical cash, thus driving the Ghanaian cashlite agenda through promotion of diverse digital payments. It also aims to facilitate payments without a bank account, contract, or smartphone, thereby boosting use of digital services and financial inclusion amongst all demographic groups.

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Keywords: CBDC, central bank, digital currency, blockchain
Categories: DeFi & Crypto & Web3
Companies:
Countries: Ghana
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DeFi & Crypto & Web3






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