šæš¦ SOUTH AFRICA SAYS āNOT YETā TO A RETAIL CBDC! āšø
The South African Reserve Bank has officially hit pause on launching a retail digital rand.
After months of research, they found thereās no strong need right now to release a digital currency for everyday users. šµļøāāļøš
Instead, SARB is shifting its focus to strengthening what already works ā upgrading payments, fixing bottlenecks, and improving access across the country. āļøš³āØ
š What SARB will focus on:
š¦ Wholesale CBDC testing (bank-to-bank digital money)
š Better cross-border payments ā faster, cheaper, smoother
š” Modernizing national payment rails with better infrastructure
š” Why theyāre being cautious:
šµ Cash is still essential for millions in SA
š¶ Infrastructure isnāt ready for digital-only money
āļø Retail CBDC doesnāt yet offer major advantages
š¤ Financial inclusion needs bigger, long-term solutions
š® Whatās next?
SARB isnāt closing the door ā just waiting for the right moment.
If technology and local conditions improve, the digital rand could make a comeback. šš°
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