File: South African Reserve Bank.
JOHANNESBURG - The South African Reserve Bank is investigating the feasibility, desirability, and appropriateness of a central bank digital currency.
In a statement released on Tuesday, the bank says the study will look at the convenience of using the central bank digital currency as electronic legal tender, for general-purpose retail use and complementary to cash.
The bank says a digital currency is aimed at providing the best attributes of both cash and electronic payments for consumers.
The CBDC feasibility study is expected to be concluded in 2022.