East Africa’s Digital Money Moment: Uganda Builds The Rails, Kenya Writes The Rules

East Africa’s Digital Money Moment: Uganda Builds The Rails, Kenya Writes The Rules

Two neighboring countries are taking different but complementary bets on the future of money. Uganda is piloting a “digital shilling” backed by government treasury bonds, part of a $5.5 billion push to tokenize real-world assets—from agro-processing hubs to mines and solar plants. The system is being developed by private partners and runs on a permissioned […]

CBDC: Uganda Begins Testing Its First Digital Currency

The initiative is part of a wider plan to modernize the country’s financial system through tokenization and blockchain infrastructure. The project is being developed in partnership with the Global Settlement Network (GSN) and Uganda’s Diacente Group, which together aim to digitize more than $5 billion worth of real-world assets. Their system uses a permissioned blockchain where the digital Ugandan shilling is backed by treasury bonds and fully a…

Uganda Rolls Out CBDC Pilot As Kenya’s Crypto Bill Clears Final Hurdle

The new CBDC in Uganda is a digital equivalent of the Ugandan shilling. It is being tested on a permissioned blockchain and is backed by Ugandan treasury bonds. The Global Settlement Network and the Ugandan Diacente Group are working together on a $5.5 billion asset tokenization project that includes this endeavor.  You can use your smartphone to access digital money, which is subject to strict compliance rules, including Know Your Customer (KYC…

CBDC | A Private Ugandan CBDC Pilot Initiative, Backed by Ugandan Treasury Bonds, Gets Underway

Two private companies have announced they are piloting a Ugandan Shilling (UGX) Central Bank Digital Currency (CBDC). The partnership is between:   Global Settlement Network (GSN) – pioneers blockchain infrastructure that powers secure, compliant, and interoperable digital asset ecosystems. Its proprietary GSX Protocol enables the seamless tokenization and management of real-world assets, bridging traditional and decentralized finance. Diacent…

CBDC: Uganda wants to be world's most advanced tokenised economy with new digital currency

Uganda has officially entered the global digital currency arena with the rollout of its first Central Bank Digital Currency (CBDC). The move places the East African nation among a growing list of countries experimenting with or deploying government-backed digital money, a development expected to reshape the country’s financial sector. The project is executed in partnership with the Global Settlement Network (GSN) and Diacente Group, the develope…

Uganda launches CBDC pilot as part of $5B tokenization push