Colombia to test CBDC on Cosmos Network for cross-border payments
05-22 12:49
Odaily News Interchain Labs co-CEO Maghnus Mareneck revealed that the Colombian government will test an unannounced central bank digital currency (CBDC) on the Cosmos network. Mareneck said they are working with the Banking Union and the Colombian government to conduct a pilot. Although no details were disclosed, it is clear that the currency focuses on cross-border payment scenarios and will be based on the Cosmos network and run using IBC Eureka technology. The CBDC uses private and licensed verification nodes, and the government can subsequently introduce more nodes such as banks to expand the network. (Bitcoin.com)
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