Central Bank of West African States to regulate national digital currency

World currencies
Both parties stress the eCFA will be compatible with all existing payment platforms

The Central Bank of West African States (BCEAO) is to regulate and distribute one of the first national digital currencies based on blockchain technology.

Dubbed the 'eCFA', the digital currency will first be rolled out in Senegal, and will circulate alongside the CFA (Communauté Financière Africaine (African Financial Community)) franc – the national and regional currency, used by 14 countries.

The development of the eCFA has been conducted by local bank Banque Régionale de Marchés (BRM) and eC

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