Cuban central bank approves new money transfer app

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The Central Bank of Cuba has granted a licence to the country’s telecommunications monopoly, Etecsa to operate a digital wallet service.

Some observers see the new service as a means of circumventing US sanctions, but others view it as part of a broader push towards mobile payments in the country.

According to the notice published in Cuba’s official gazette, the central bank licensed Etecsa to act as a “non-financial institution” in a regulation approved on March 1. Etecsa may offer a “digital

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