Egypt Targets CBDC By 2030 To Head Off Crypto
Egypt is reportedly working on a central bank digital currency (CBDC) project, as part of a government economic strategy document from 2024 to 2030.
The e-Pound is planned to be launched by 2030. In August 2022, the Central Bank of Egypt announced it was implementing a CBDC and e-KYC to prevent cryptocurrency adoption.
However, launching the CBDC in 2030 may be too late. Egypt is currently in the research phase with several international organizations, including the IMF, which aids developing economies with CBDC research. The IMF is likely one of the international organizations supporting Egypt’s CBDC research efforts.
(With inputs from Shikha Singh)
You need to login in order to Like
