South Africa’s Reserve Bank Prioritizes Modern Payment System Over CBDC Launch

The South African Reserve Bank (SARB) is prioritizing modernization of the nation’s payment system over a potential central bank digital currency (CBDC) rollout in the near term. As per Cointelegraph, a recent paper released by the SARB revealed that while technically feasible, immediate retail CBDC adoption isn’t considered essential at this stage. The SARB emphasizes current efforts aimed at enhancing existing payments infrastructure and encouraging non-bank participation within the national system as priorities for now. ]