New Zealand's Reserve Bank explores central bank digital currency (CBDC) for innovation, competition, and digital economy.

New Zealand's central bank, the Reserve Bank of New Zealand (RBNZ), is exploring a central bank digital currency (CBDC) to foster innovation, competition, and an advanced digital economy. The "digital cash" would be another form of money alongside physical cash, electronic money in bank accounts, and would be the first government-backed digital currency available to the public. The RBNZ aims to ensure the continuity of central bank money for all New Zealanders, who can choose between digital or physical cash. The consultation for digital currency is open to all New Zealanders until July 26.

April 16, 2024
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