Uganda begins its first central bank digital currency pilot while Kenya’s landmark crypto regulation bill nears presidential approval.
Uganda has launched a central bank digital currency (CBDC) pilot — a digital version of the Ugandan shilling backed by treasury bonds and deployed on a permissioned blockchain. The project, developed by the Global Settlement Network (GSN) and Diacente Group, is part of a broader plan to tokenize $5.5 billion in real-world assets across the country.
The CBDC adheres to KYC and AML compliance standards, allowing citizens to access it directly through smartphones. Uganda’s tokenization drive will also digitize value flows in agriculture, mining, and renewable energy sectors to boost local investment and transparency.
Meanwhile, neighboring Kenya has passed its Virtual Asset Service Providers (VASP) Bill, 2025, through Parliament. The bill—awaiting President William Ruto’s assent—will establish a clear regulatory framework for digital assets.
With both nations advancing digital finance, East Africa is rapidly emerging as a hub for blockchain innovation and regulatory leadership.
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