Rwandan CBDC Project to Move to Pilot Phase (BNR)
The National Bank of Rwanda (BNR) published the results of its five‑month central bank digital currency (CBDC) proof of concept (PoC) with BNR staff that tested a retail e‑FRW across online, offline (dual‑offline smartcards), and USSD channels, confirming technical feasibility and the potential to enhance payment resilience, inclusion, and innovation. User research showed strong interest in using e-FRW if it is secure, easy to use, and widely accepted, with offline functionality viewed as essential for continuity in low‑connectivity areas. The PoC also explored wallet‑level programmability, ran a national ideathon to gauge ecosystem readiness, and simulated cross‑border atomic settlement, all within a two‑tier model that preserves the roles of financial institutions. Key lessons concern device diversity, onboarding, support processes, privacy and cybersecurity requirements, and the need for strong legal underpinnings, leading to a planned 12‑month pilot in Kigali, a secondary city, and rural sites to test real‑world use cases, integration, and cross‑border corridors under clearly defined key performance indicators (KPIs) and risk controls. Giesecke+Devrient (G+D) was the central bank’s technology partner on the project. [BNR]
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