Uganda to Pilot CBDC Backed by Treasury Bonds and Mobile Access

Uganda to Pilot CBDC Backed by Treasury Bonds and Mobile Access

Global Settlement Network (GSN) has partnered with Diacente Group to launch a $5.5 billion tokenized economy in Uganda’s Karamoja region. The initiative includes piloting Uganda’s first central bank digital currency (CBDC), backed by treasury bonds and accessible via mobile devices. Built on GSN’s blockchain, the project will digitize key sectors like agriculture, mining, and energy,... The post Uganda to Pilot CBDC Backed by Treasury Bonds and …

Africa Crypto News Week in Review: Kenya Passes VASP Bill, Uganda CBDC Pilot, Bitcoin Lightning Network Adoption in South Africa

After months of debate, Kenya’s parliament has passed the country’s first comprehensive crypto legislation. VASP will be key in driving adoption and creating a regulatory framework for crypto businesses in the country. In Uganda, an initiative to launch the country’s first Central Bank Digital Currency (CBDC) is going into effect. CBDC continues to lose momentum as stablecoins, like the USDC and USDT, take over Meanwhile, approximately 650,000 c…