Uganda has launched a pilot program for its first Central Bank Digital Currency (CBDC), developed through a partnership between blockchain firm Global Settlement Network (GSN) and Diacente Group.
The initiative supports Uganda’s $5.5 billion Karamoja Green Industrial and Special Economic Zone and aims to tokenize major sectors such as agriculture, mining, and renewable energy.
Built on GSN’s secure blockchain, the “digital shilling” will be backed by government treasury bonds and real-world assets, allowing tokenized ownership of facilities like food processing plants and solar farms.
Accessible via smartphones and USSD, the system will enable more than 40 million Ugandans to make secure digital transactions for the first time.
GSN co-founder Ryan Kirkley described it as “a programmable economy grounded in real assets,” while Diacente Group chairman Edgar Agaba said the CBDC will improve transparency, attract investors, and expand participation in Uganda’s emerging digital economy.
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