Cryptocurrency News
South Africa finishes technical PoC for wholesale CBDC settlement system
2022.04.08 12:05
South Africa finishes technical PoC for wholesale CBDC settlement system
South Africa has taken another step closer to implementing its central bank digital currency (CBDC) as the South African Reserve Bank (SARB) concludes a technical proof-of-concept for the project.
The project, titled Project Khokha 2 (PK2), is the second phase of SARB’s Project Khokha (PK1), launched in 2018. It experimented with distributed ledger technology (DLT) for interbank payments’ settlement, successfully replicating the banks’ “SAMOS” real-time gross settlement system.
