Nigeria’s e-Naira is the most developed digital currency in the world – PwC

Nigeria’s e-Naira has been ranked as the most developed Central Bank Digital Currency (CBDC) in the world after beating out Bahamas, China, South Korea and other countries to lead the top 10 rank.

This is according to the 2022 PwC Global CBDC index released on Monday April 4, 2022.

The reports also added that retail projects in the index are led by the Central Bank of Nigeria’s (CBN) eNaira, the first CBDC in Africa, and the Sand Dollar, issued by the Central Bank of the Bahamas as legal tender in October 2020, making the Bahamas the first country to launch a CBDC.

China became the first major economy to pilot a CBDC in 2020 with the digital yuan, and as of March 2022 pilot programs are running in 12 cities, including Beijing and Shanghai.

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