Central Bank of Peru Will Develop a Digital Currency

Central Bank of Peru Will Develop a Digital Currency


The Central Reserve Bank of Peru, the Peruvian central bank, is planning to develop a central bank digital currency (CBDC) like other economies of the world. The announcement was made by its president, Julio Velarde, who stated that the currency would be designed for use primarily in payments. However, Velarde also acknowledged this was not the best time to present the currency due to the current uncertainty in markets.

Peru to Hop on CBDC Bandwagon

Julio Velarde, president of the Reserve Bank of Peru, announced the institution was already working on the creation of a national central bank digital currency (CBDC). The announcement was made last week during the 59th virtual edition of the annual executive summit. He stated that the creation of such a

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