Bank of Zambia Expected to Launch its Digital Currency end of 2022

The Cryptocurrency will not be a Legal Tender in Zambia. The Bank of Zambia has expected to launch its own Central Bank Digital Currency , before the end of the last quarter of 2022. Central Bank of Zambia expects to complete research on forming a digital currency that could minimize the  transaction costs and boost participation in the  financial system by the end of financial year 2022

Zambian Government Legalize Digital Currency, But Warns Crypto Holders

CBDC is  Zambia’s government backed digital currency that developed by central banks after the rise in uses of cryptocurrencies such as Bitcoin, Dogecoin and Ethereum in their country. Zambia’s  central bank is doing  a research study that will provide benefits of launching a central bank digital currency  in last quarter  of 2022. The Central Bank of Zambia has been weighing the benefits and losses of creating a digital currency so that they can find, that legalizing the crypto currency can benefiting them or not. The Zambian government legalize crypto currency but warns its country crypto holders about inflation rate of digital coin like Bitcoin, Dogecoin and Ethereum.