digital lilangeni

Link to whitepaper: www.centralbank.org.sz

Link to whitepaper: www.centralbank.org.sz

Main motivation/goals of the CBDC: The project will enable the Central Bank of Eswatini to make decisions about the implementation of a CBDC in Eswatini. It is envisaged that at the end of the project, the central bank will understand whether, and how, a CBDC could provide additional benefits and ensure continued access to central bank money, contributing to the development of the country’s diverse and resilient payment system. → The CBE is advancing the digital Lilangeni, providing secure access to central bank-issued money for the public, fostering digitalization in the economy and financial sector. It catalyzes innovation and business opportunities within Eswatini while deepening financial inclusion. Anticipating the future role of the CBE as an active regulator and facilitator of digitalization in the CMA and Africa, the digital Lilangeni drives financial integration and technological advancement.

Link to announcement: www.centralbank.org.sz

Technology Provider: Giesecke+Devrient (G+D)

Technology: Filia

DLT / non-DLT: Non-DLT

Main motivation/goals of the CBDC: The study sought to understand the value that a CBDC would contribute to the Eswatini financial system and whether further exploration of CBDC and potentially conducting pilot-testing would be justified. → The project will enable the Central Bank of Eswatini to make decisions about the implementation of a CBDC in Eswatini. It is envisaged that at the end of the project, the central bank will understand whether, and how, a CBDC could provide additional benefits and ensure continued access to central bank money, contributing to the development of the country’s diverse and resilient payment system.

Link to announcement: www.gi-de.com

None → Research

Announcement Year: 2019

Retail/Wholesale: Retail

Description: The findings of the first phase of the study indicate that there are at least three potential use cases that motivate further exploration of CBDC to determine whether Eswatini satisfies key prerequisites for launching a CBDC that would benefit the Eswatini economy.

Main motivation/goals of the CBDC: The study sought to understand the value that a CBDC would contribute to the Eswatini financial system and whether further exploration of CBDC and potentially conducting pilot-testing would be justified.

Link to announcement: www.centralbank.org.sz

Country / Region: Eswatini

Central Bank(s): Central Bank of Eswatini