The Central Bank of Rwanda may issue its own cryptocurrency

The Central Bank of Rwanda is considering the possibility of issuing its own cryptocurrency and for this purpose is studying the reports of regulators from other countries.

It is reported that the Central Bank of Rwanda pays particular attention to research by the Bank of Canada, the Central Bank of the Netherlands, and the regulator of Singapore. Peace Masozera Uwase, Director General for Financial Stability of the National Bank of Rwanda, said:

“There are still concerns about how exactly you convert the currency to digital form, how to distribute it and how quickly you can process transactions.”

Uvas emphasized that the issue of issuing state digital currency depends on technology.

“It’s all about technology. If she let you down, what will you do? We will issue such a currency when we are ready, ”he said.

At the end of the year, Rwanda, which is one of the leaders in the export of tantalum in the world, announced plans to launch a blockchain system to track metal supplies.