Sarb finds ‘no compelling need’ for a retail CBDC
Central bank pivots towards wholesale version while modernising national payments system
The South African Reserve Bank (Sarb) has said it will not be pursuing a retail central bank digital currency, and will instead focus its efforts on fast payments and a wholesale CBDC.
In a position paper published on November 27, the central bank concluded that although a retail CBDC was “technically feasible”, there was “no compelling immediate need for its implementation”.
The Sarb had commissioned a feasibility study for a retail CBDC back in 2021. Over 10 months it investigated two models
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