Deep Tide TechFlow News, on May 8, according to Bitcoin.com, the Central Bank of Bolivia, under the leadership of President Edwin Rojas Ulo, is designing a new cryptocurrency called "virtual boliviano," intended for international settlements.

It is reported that the proposal will be officially announced during the celebration of Bolivia's 200th Independence anniversary on August 6. To ensure the robustness of the design, the central bank is collaborating with international institutions and other central banks. The officials stated that the "virtual boliviano" is expected to modernize the payment system while helping to save foreign exchange reserves.