{"id":337872,"date":"2022-07-23T22:14:43","date_gmt":"2022-07-24T02:14:43","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=337872"},"modified":"2022-07-23T22:14:43","modified_gmt":"2022-07-24T02:14:43","slug":"board-of-the-bank-of-central-african-states-set-to-launch-a-cbdc","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/board-of-the-bank-of-central-african-states-set-to-launch-a-cbdc","title":{"rendered":"Board of the Bank of Central African States set to launch a CBDC"},"content":{"rendered":"<p>The Bank of Central African States is set to launch a central bank digital currency (CBDC). This bank serves several regions, including Cameroon, Chad, Equatorial Guinea, the Republic of Congo, the Central African Republic, and Gabon.<\/p>\n<h2>Bank of Central African States set to launch a CBDC<\/h2>\n<p>The Bank of Central African States, also known as Banque des Etats de l&rsquo;Afrique, is close to having a CBDC after the approval of this product by the bank&rsquo;s board. A report published on Friday by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-22\/central-african-regional-bank-seeks-common-digital-currency\">Bloomberg<\/a> said that the board had sent an email urging the regional banking institution to launch a digital currency to modernize the existing payment systems and support financial inclusion.<\/p>\n<p>The Central African Republic (CAR) is one of the countries represented by this regional bank. In April this year, the country passed legislation that supported the use of Bitcoin as legal tender. However, the country has yet to make plans for launching a CBDC.<\/p>\n<p>After the country adopted Bitcoin as legal tender, the President, Faustin-Archange Touadera, said that the country would be working on a crypto project known as Sango. The project includes a crypto hub and an economic zone within the metaverse.<\/p>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\"><a href=\"https:\/\/insidebitcoins.com\/visit\/etoro\" class=\"su-button su-button-style-3d\" style=\"color:#000000;background-color:#F9A602;border-color:#c88502;border-radius:9px\" target=\"_self\" rel=\"nofollow\"><span style=\"color:#000000;padding:0px 24px;font-size:18px;line-height:36px;border-color:#fbc14e;border-radius:9px;text-shadow:none\"> <strong>Buy Bitcoin Now<\/strong><\/span><\/a><\/span><\/p>\n<p style=\"text-align: center\"><em>Your capital is at risk.<\/em><\/p>\n<p>Africa has been ranked as one of the fastest-growing digital asset regions globally. A report released earlier this year said that cryptocurrency transactions had increased by 2670% year-over-year in several countries such as Dakar, Core d&rsquo;Ivoire, and Senegal.<\/p>\n<p>The Bank of Central African States criticized the Central African Republic for endorsing Bitcoin as legal tender. The institution said that the move could create problems and affect the monetary union of the Central African region.<\/p>\n<h2>CBDC plans in Africa<\/h2>\n<p>While private cryptocurrencies are becoming popular in Africa, CBDC plans are also picking up. The central bank of Nigeria was among the first regions that announced plans to roll out a CBDC known as the eNaira. The CBDC development journey started in October 2021.<\/p>\n<p>South Africa&rsquo;s Reserve Bank is also assessing the possible use cases of a CBDC through the Project Khokha initiative. However, countries situated in Sub-Saharan Africa could face problems with their cryptocurrency and CBDC plans because of the limited access to the electricity needed for mining and transfers.<\/p>\n<p>Data published by the World Bank in 2020 said that the Central African Republic and Chad had the lowest access to electricity. This could hamper the growth of the digital asset sector that largely relies on electricity.<\/p>\n<p><strong>Read more:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\">How to buy Cryptocurrencies<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\">How to buy Bitcoin<\/a><\/li>\n<\/ul>\n\n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">The Bank of Central African States is set to launch a central bank digital currency (CBDC). This bank serves several regions, including Cameroon, Chad, Equatorial <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/board-of-the-bank-of-central-african-states-set-to-launch-a-cbdc\" title=\"Board of the Bank of Central African States set to launch a CBDC\">[&#8230;]<\/a><\/div>","protected":false},"author":1717,"featured_media":337873,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-337872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Board of the Bank of Central African States set to launch a CBDC<\/title>\n<meta name=\"description\" content=\"The Bank of Central African States is set to launch a central bank digital currency (CBDC). Bank serves several regions, including Cameroon.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Board of the Bank of Central African States set to launch a CBDC\" \/>\n<meta property=\"og:description\" content=\"The Bank of Central African States is set to launch a central bank digital currency (CBDC). Bank serves several regions, including Cameroon.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-24T02:14:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"463\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ali Raza\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ali_r1272\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ali Raza\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872\"},\"author\":{\"name\":\"Ali Raza\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d\"},\"headline\":\"Board of the Bank of Central African States set to launch a CBDC\",\"datePublished\":\"2022-07-24T02:14:43+00:00\",\"dateModified\":\"2022-07-24T02:14:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872\"},\"wordCount\":452,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg\",\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#respond\"]}],\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872\",\"name\":\"Board of the Bank of Central African States set to launch a CBDC\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg\",\"datePublished\":\"2022-07-24T02:14:43+00:00\",\"dateModified\":\"2022-07-24T02:14:43+00:00\",\"description\":\"The Bank of Central African States is set to launch a central bank digital currency (CBDC). Bank serves several regions, including Cameroon.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#primaryimage\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg\",\"width\":750,\"height\":463,\"caption\":\"Board of the Bank of Central African States set to launch a CBDC\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insidebitcoins.com\/#website\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"name\":\"InsideBitcoins.com\",\"description\":\"Search &amp; Compare Brokers within Crypto, Forex &amp; Stocks\",\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insidebitcoins.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/insidebitcoins.com\/#organization\",\"name\":\"InsideBitcoins\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"width\":195,\"height\":32,\"caption\":\"InsideBitcoins\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d\",\"name\":\"Ali Raza\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg\",\"caption\":\"Ali Raza\"},\"description\":\"Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali\u2019s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Business2Community, BeinCrypto, and more.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/alirazak\/\",\"https:\/\/x.com\/ali_r1272\"],\"knowsAbout\":[\"Cryptocurrency\",\"Fintech\",\"Finance\"],\"jobTitle\":\"Editor\",\"url\":\"https:\/\/insidebitcoins.com\/author\/aliraza\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Board of the Bank of Central African States set to launch a CBDC","description":"The Bank of Central African States is set to launch a central bank digital currency (CBDC). Bank serves several regions, including Cameroon.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872","og_locale":"en_US","og_type":"article","og_title":"Board of the Bank of Central African States set to launch a CBDC","og_description":"The Bank of Central African States is set to launch a central bank digital currency (CBDC). Bank serves several regions, including Cameroon.","og_site_name":"InsideBitcoins.com","article_published_time":"2022-07-24T02:14:43+00:00","og_image":[{"width":750,"height":463,"url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg","type":"image\/jpeg"}],"author":"Ali Raza","twitter_card":"summary_large_image","twitter_creator":"@ali_r1272","twitter_misc":{"Written by":"Ali Raza","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#article","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872"},"author":{"name":"Ali Raza","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d"},"headline":"Board of the Bank of Central African States set to launch a CBDC","datePublished":"2022-07-24T02:14:43+00:00","dateModified":"2022-07-24T02:14:43+00:00","mainEntityOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872"},"wordCount":452,"commentCount":0,"publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#primaryimage"},"thumbnailUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg","articleSection":["Breaking Crypto News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#respond"]}],"copyrightYear":"2022","copyrightHolder":{"@id":"https:\/\/insidebitcoins.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872","url":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872","name":"Board of the Bank of Central African States set to launch a CBDC","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#primaryimage"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#primaryimage"},"thumbnailUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg","datePublished":"2022-07-24T02:14:43+00:00","dateModified":"2022-07-24T02:14:43+00:00","description":"The Bank of Central African States is set to launch a central bank digital currency (CBDC). Bank serves several regions, including Cameroon.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872#primaryimage","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/Board-of-the-Bank-of-Central-African-States-set-to-launch-a-CBDC.jpg","width":750,"height":463,"caption":"Board of the Bank of Central African States set to launch a CBDC"},{"@type":"WebSite","@id":"https:\/\/insidebitcoins.com\/#website","url":"https:\/\/insidebitcoins.com\/","name":"InsideBitcoins.com","description":"Search &amp; Compare Brokers within Crypto, Forex &amp; Stocks","publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insidebitcoins.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/insidebitcoins.com\/#organization","name":"InsideBitcoins","url":"https:\/\/insidebitcoins.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","width":195,"height":32,"caption":"InsideBitcoins"},"image":{"@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/542f9bb7fcd1a45cdfd54e377a73fb2d","name":"Ali Raza","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/04\/avatar_user_1717_1714353205-96x96.jpeg","caption":"Ali Raza"},"description":"Ali is a professional journalist with experience in Web3 journalism and marketing. Ali holds a Master's degree in Finance and enjoys writing about cryptocurrencies and fintech. Ali\u2019s work has been published on a number of leading cryptocurrency publications including Capital.com, CryptoSlate, Securities.io, Business2Community, BeinCrypto, and more.","sameAs":["https:\/\/www.linkedin.com\/in\/alirazak\/","https:\/\/x.com\/ali_r1272"],"knowsAbout":["Cryptocurrency","Fintech","Finance"],"jobTitle":"Editor","url":"https:\/\/insidebitcoins.com\/author\/aliraza"}]}},"_links":{"self":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872"}],"collection":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/users\/1717"}],"replies":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/comments?post=337872"}],"version-history":[{"count":0,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/337872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media\/337873"}],"wp:attachment":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media?parent=337872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/categories?post=337872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/tags?post=337872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}