Mauritius, one of the Central African countries, plans to launch a pilot project for the retail digital rupee later this year.
The head of the Bank of Mauritius briefed on the development of the island nation’s CBDC ambitions at a meeting of central bank technologists.
Mauritius Plans to Launch Pilot Project for Digital Rupee
After the development of digital country currencies, crypto money and Blockchain industry, it continues to attract the attention of all segments. However, many countries have taken action for digital money. In addition, pilot projects are still ongoing in some countries.
Bank of Mauritius Chairman Harvesh Kumar Seegolam announced that Mauritius plans to launch a pilot phase of a digital rupee in November.
Address by Governor @HarveshSeegolam at the IMF/World Bank Community of Central Bank Technologists workshop on the theme of “The Future of Central Bank Money in a Digital World” on https://t.co/CamOr3jCh1 #centralbank #banking #fintech #DigitalCurrency #cbdc #imf #worldbank
— Bank of Mauritius (@BoM_Mauritius) April 26, 2023
Seegolam said he prioritized CBDC development when he took office in 2020, adding:
“As a central banker, I need not stress the important role that CBDCs will play not only in protecting monetary sovereignty, but also in preventing money laundering to central banks and regulatory authorities.”
Seegolam’s consultations with International Monetary Fund (IMF) experts began when he took office. The talks resulted in the preparation of a feasibility report. According to Seegolam, Mauritius was the first country to benefit from IMF technical assistance with the CBDC project.
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