Israel releases preliminary design for digital Shekel CBDC with potential launch post-2026

From Cointelegraph
March 4, 2025 5:54 AM:

The Bank of Israel has released a preliminary design proposal for the digital Shekel (DS), Israel’s potential central bank digital currency (CBDC), with no official launch confirmed. The report highlights various motivations for issuing a digital shekel, including creating an alternative payment system and infrastructure, lowering costs, and improving privacy.

The central bank plans for the digital Shekel to have key features such as offline functionality, interoperability with other payment systems, and instant settlements. Private-sector participants will assist with user onboarding, converting deposits, and providing advanced financial services. The Bank of Israel will be the sole issuer of the CBDC.

To gather feedback on the CBDC design, the Bank of Israel has launched a “Digital Shekel Challenge” to explore real-world use cases. The final decision on launching an Israeli CBDC will be made after 2026, based on research, public feedback, and regulatory considerations. Public feedback and suggestions on the CBDC design are being collected until April 30, 2025.

Read more at Cointelegraph: Israel releases preliminary CBDC design for digital Shekel