Solomon Islands launches CBDC pilot with Soramitsu
Prime minister says launching a CBDC could promote financial inclusion in the island nation and reduce transaction costs
The Central Bank of Solomon Islands (CBSI) has launched a proof-of-concept for a central bank digital currency (CBDC) called Bokolo Cash, with the support of Japanese fintech firm Soramitsu and the Japanese government.
The CBSI started experimenting with Bokolo Cash on November 1, the central bank announced on November 28. The proof-of-concept involves testing Bokolo Cash for both foreign and overseas payments, according to Soramitsu.
Participating individuals and businesses can use Bokolo Cash
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