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Ghana to Test CBDC With German Banknote Printer Giesecke+Devrient
The digital cedi will be tested with banks, payment service providers, merchants, consumers and other stakeholders.
The Bank of Ghana plans to test a central bank digital currency (CBDC) in partnership with German banknote printer Giesecke & Devrient.
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- The central bank said Wednesday that Giesecke & Devrient will be providing the technology for the currency, the digital cedi.
- Munich-based 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
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
