The Central Bank of Kenya (CBK) has published a discussion paper on its central bank digital currency (CBDC), seeking public input on the potential benefits and risks and regulatory issues of introducing a CBDC in Kenya.
In a statement, the CBK has highlighted that using a CBDC might improve cross-border payments by making them more efficient and less expensive. The regulator says that CDBC solutions can flatten the multi-layered correspondent banking structure and shorten payment chains in a discussion paper exploring the future use of a digital currency: