CBDC ‘will not be a compelling precedence,' says Kenya’s central financial institution

The Central Financial institution of Kenya obtained feedback on a dialogue paper on the potential issuance of a digital shilling and hasn’t reached a definitive conclusion.

In a June 2 announcement on Twitter, Kenya’s central financial institution mentioned it obtained greater than 100 feedback from members of the general public, industrial banks, tech companies and different contributors throughout 9 nations concerning the issuance of a central financial institution digital foreign money, or CBDC. The responses various from highlighting potential advantages and dangers, however the central financial institution mentioned it will “proceed to observe developments” and take a “measured strategy” to contemplate assessing the rollout of a digital shilling sooner or later.

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