Derived from Cryptonewsland, the South African Reserve Bank has decided to delay the rollout of a retail central bank digital currency (CBDC) in favor of modernizing existing payment systems. The central bank is now prioritizing wholesale CBDC applications and improving cross-border payment efficiency. Research indicates that limited financial access and digital risks remain major barriers to a retail CBDC. The bank also expressed growing concerns about the misuse of digital assets and stablecoins, particularly in relation to Exchange Control Regulations. Currently, only three countries—Nigeria, Jamaica, and the Bahamas—have live CBDCs, while many others remain in development or research stages.
South Africa Delays Retail CBDC Plans, Focuses on Payment System Upgrades
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