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The Central African Regional Bank will introduce a single digital currency for six countries

The Central African Regional Bank will introduce a single digital currency for six countries.

According to Bloomberg, the Bank of Central African States is pushing for a standard digital currency that could be used in all six member states.

The Bank of Central African States, which serves Cameroon, Gabon, Chad, the Republic of Congo, Equatorial Guinea, and the Central African Republic, will become the first regional bank to introduce a virtual currency.

The proposal comes after the central bank’s strong opposition to the Central African Republic’s adoption of Bitcoin as legal tender this year.

Also, the central bank should also develop a common framework regulating cryptocurrencies, it said.

Read more at the link: https://www.bloomberg.com/news/articles/2022-07-22/central-african-regional-bank-seeks-common-digital-currency