South Africa is now closer to its digital currency, the CBDC. The South African Reserve Bank has completed a technical proof of concept for the project.

The project titled Project Khokha 2 (PK2) is the second phase of SARB’s Project Khokha (PK1), launched in 2018. It We have experimented using distributed ledger technology (DLT) for interbank payments‘ settlement, successfully replicating the banks’ “SAMOS” real-time gross settlement system.