Uganda launches CBDC pilot, partnering with GSN to tokenize $5.5 billion in real-world assets. Kenya’s VASP bill passes parliament, awaiting President’s signature. Sub-Saharan Africa ranks third in crypto adoption. Nigeria was first African country to launch CBDC in 2021, with other countries like Ghana and South Africa piloting as well.

Uganda’s CBDC, backed by treasury bonds, deployed on GSN’s blockchain. Tokenization effort focuses on digitizing key sectors. Compliance with KYC and AML protocols. Initiative aims to attract new capital and empower local industries. Several African countries already piloted CBDCs, while others are in research phase.

Kenya’s VASP bill establishes licensing and consumer protections. Central Bank of Kenya to oversee payment functions. Capital Markets Authority to regulate investment activities. Legislation includes KYC, AML provisions. Africa’s crypto industry estimated to have over 75 million users by 2026, with projected revenue of $5.1 billion.

Read more at Cointelegraph: Uganda to Launch CBDC Pilot, Kenya Close to Regulation