Ghana to Pilot CBDC With German Banknote Printer Giesecke+Devrient

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The Bank of Ghana plans to test a general purpose central bank digital currency (CBDC) in partnership with German banknote printer Giesecke+Devrient. 

  • The central bank said Wednesday that Giesecke+Devrient will be providing the technology for the currency, the digital cedi.
  • Headquartered in Munich, Giesecke+Devrient provides banknote and securities printing services as well as cash-handling systems.
  • The CBDC will be tested with banks, payment-service providers, merchants, consumers and other relevant stakeholders.
  • In July, Bank of Ghana First Deputy Gov. Maxwell Opoku-Afari said the last phase before implementation of a digital cedi is “expected to start by September.”
  • No definitive timeline for the potential launch of a digital cedi has been given.

Read more: Ghana’s Central Bank to Pilot CBDC in September, Calls It ‘Cash on Its Own’: Report

Related Stories

  • Jamaica’s Central Bank Mints Country’s First Batch of CBDCs
  • JPMorgan: CBDCs Must Not Cannibalize Commercial Financial Systems
  • CBDCs Can Stop Aid Falling Into Terrorist Hands
  • Fed’s Brainard Says US Can’t Not Have a CBDC in a World in Which Others Have Them

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Author: CoinDesk


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