South Africa’s central bank studies advantages of central bank digital currency in the retail sector

The South African Reserve Bank (SARB) said on Tuesday it is studying the benefits of issuing digital currencies for general retail purposes, according to Reuters. “. The purpose of the study is to consider how the issuance of a common CBDC would affect SARB’s policy stance and mandate, the report said. The study, which will conclude in 2022, will conduct hands-on experiments on different emerging technology platforms and consider a variety of factors, including policy, regulatory, security and risk management implications.