CBDCs included in the EAC Draft Cross-Border Payment System Masterplan - 0 views
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John Kiff on 25 Apr 25The East African Community (EAC) Draft Cross-Border Payment System Masterplan was validated by its eight member countries (Burundi, the Democratic Republic of Congo, Kenya, Rwanda, Somalia, South Sudan, Uganda and Tanzania). The Masterplan aims to enhance the speed, security, affordability and integration of payment systems across the region. It tackles key obstacles such as fragmented regulations, high transaction costs, and limited interoperability by outlining twenty targeted initiatives. These include a regional instant retail payment switch, and exploring using central bank digital currencies (CBDCs) for regional transactions.