In a statement released on May 25, 2021, the central bank says the feasibility study will include practical experimentation across different emerging technology platforms. The study will take into account a variety of factors, including policy, regulatory, security, and risk management implications.
Still, the statement clarifies that this latest study will be distinct from the previous one. The statement explains:
It should be noted that while the CBDC feasibility study is different from Project Khokha, which focuses on the settlement of high-value transactions between commercial banks and other stakeholders at the wholesale level, it is expected that the two studies will result in better policy alignment and coordination.
However, the SARB has downplayed the possibility of it launching digital currency in the near future. It said it has “made no decision to issue a retail CBDC.”