Venezuela to debut CBDC in October

“Bolívar digital” accompanied by redenomination of currency, which will drop six zeroes

New Venezuela notes

The Central Bank of Venezuela (BCV) said on August 5 that it would introduce a “digital bolívar” from the beginning of October.

Venezuela would become the third jurisdiction with an operating retail central bank digital currency (CBDC), after the Bahamas and the Eastern Caribbean, although an earlier experiment with CBDC in Venezuela failed to take off.

The BCV also announced it would redenominate the national currency, striking six zeroes from all monetary amounts. This would be the third

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