The Central Bank of Chile recently indicated that the tests started in May 2022 for the launch of a new digital currency will be expanded.

In the announcement made last Thursday, the Central Bank of the South American country indicated that there will be tests in a controlled environment, which is known as a sandbox, “to better understand the challenges and implications in technological and operational terms that the eventual issuance of a digital currency.”

The measure has been included in the second report “Issuance of a Central Bank Digital Currency in Chile”, which records the dialogue and interaction with the public carried out by the regulatory entity on the potential issuance of a CBDC.

This year, the explorations will include the relevant processes to complement the analysis and study, with an applied instance, so that the Chilean economy aligns with the advances of other countries in this area.

The bank has made it clear that the evidence does not indicate that the decision to issue a digital currency in the country has already been made. Much less is it a replacement or substitution for traditional Chilean means of payment, particularly cash.

“The Central Bank of Chile continues to consider that there is still not enough information to make a definitive decision regarding its issuance,” according to the report.

With these tests, Chile seeks to follow in the footsteps of other central banks in the international environment, added to the increasingly marked digitalization of payments, as a sign of technological evolution.

The Central Bank of Chile is betting with the measure to achieve greater benefits related to or derived from the digital economy.

M.Pino

Source: americaeconomia

(Reference image source: Thomas Griggs on Unsplash)

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La entrada Central Bank of Chile will carry out new tests to issue digital currency apareció primero en Bitfinance.

The Colombian digital and fintech wallet, MOVii, has announced its new pilot plan directed with the help of Bitpoint, to the purchase and sale of crypto assets to the users of the platform, as announced by the CEO of the fintech, Hernando Rubio , in the newspaper La República.

According to the local media, “MOVii with Bitpoint are one of the nine authorized alliances of the cryptoactive pilot plan in the Sandbox of the Superfinanciera” in Colombia and it is expected that this project will open an understanding to “the needs of users in relation to crypto assets.”

Rubio in his statements also indicated that the intention is not to believe in the project as an alternative to operate in a local currency but to consider it as an asset, “where the responsibility for its fluctuation lies with whoever decided to buy it, and as such, allow people who can buy or sell them when required without the limitations,” the executive assured.

For the creators, MOVii with Bitpoint is “a way to make this issue more transparent” and even more so in current times when Colombia is part of the “top 5 of countries that uses the most crypto in the world, both in purchase and sale. Rubio reported.

“Today this is a market that is developing from informality, which will change drastically with the Sandbox of the Superfinanciera”, added the CEO of MOVii.

K.Villarroel

Source: cointelegraph

La entrada Colombian fintech will allow users to buy crypto assets apareció primero en Bitfinance.