May 25 , 2023

Countries that have their own e-currency

By True Scoop

The recent entrant on the list where India rolled out the pilot project of its indigenous digital currency e-rupi on December 1st, 2022, and will proceed for the common public in a graded manner.

Jamaica launched Jam-Dex in 2022 and became the first nation to legalize digital currency.

With the launch of eNaira, Nigeria became the first African country to launch CBDC which is dated back to 2021.

Eastern Caribbean Central Bank launched DCash, which became the first digital currency to be used by a monetary union.

The Bahamas launched its e-currency back in October 2020 and went on to become the first country to use electronic currency across the world.

China is also on the list of the rarest countries that have made a path for e-currency in the monetary system and launched its first pilots of digital cash-- digital yuan or e-CNY in the year 2019.

Sweden finished the second phase of its pilot for digital currency, the E-krona, in April 2022.

Australia is also not far behind in the race of CBDC and kicked off the project for its very own indigenous e-currency eAUD in July 2022.

UAE and Saudi Arabia launched a CBDC pilot project called Project Aber in 2019, although there is no big move yet made from the middle eastern countries yet in the journey ahead.