Uruguay’s Central Bank (BCU) formally presented rollout of its pioneering digitization of the Uruguayan peso on 3 November 2017. Set now as a pilot program, the bank’s head was careful to remind it “is not a cryptocurrency such as bitcoins,” but “a currency that remains the responsibility of the BCU,” according to an Argentinian report.
Uruguay to Issue Digital Currency
In what will surely be watched by the world’s central bankers, the South American nation, stuffed between giants Brazil to its east and Argentina to its west, is acting on what until now other countries, such as Russia, have only contemplated. It announced “a six-month pilot plan for the issuance and use of digital notes of the Uruguayan peso,” in a press release…
Read Full: Uruguay to Launch Digital Currency, “Not Bitcoin” it Stresses