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Venezuela to Debut CBDC in October

by CBDC Insider
August 17, 2021
in Business, South America
Reading Time: 1min read
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Venezuela to Debut CBDC in October
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The Central Bank of Venezuela (BCV) said on August 5 that it would introduce a “digital bolívar” from the beginning of October.
Venezuela would become the third jurisdiction with an operating retail central bank digital currency (CBDC), after the Bahamas and the Eastern Caribbean, although an earlier experiment with CBDC in Venezuela failed to take off.  The BCV also announced it would redenominate the national currency, striking six zeroes from all monetary amounts.
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