The National Bank of Rwanda (BNR), which is the Central Bank of Rwanda, is currently exploring real-world use cases and technical feasibility for a Rwandan Central Bank Digital Currency (CBDC) – a digital equivalent of the Rwandan Franc.
The retail CBDC is not expected to replace existing payment methods like cash, cards, and electronic payments but simply a payment option.
As #Rwanda explores a Central Bank Digital Currency, the aim is to expand access, improve functionality, and enhance the financial ecosystem with secure, efficient, and inclusive options.
Learn how CBDC enhances your payment experience alongside existing methods.#CBDC… pic.twitter.com/wiyY4RM3cw
— Central Bank of Rwanda (@CentralBankRw) August 3, 2025
This latest development was announced by the apex following this announcement:
“The PoC aims to test foundational design features as suggested by the research phase, legal, cybersecurity and payment system implication. The Proof of concept will inform the decisions for further live pilots or a differentiated stance.
This hands-on phase puts theory to the test, exploring real-world use cases and technical feasibility to shape the future of digital currency in Rwanda.”
CBDC isn’t just digital currency, it’s an innovation platform! The National Bank of #Rwanda invites private sector collaboration to develop game-changing use cases.
To register, click herehttps://t.co/BRioT2yraM#CBDC#BNREngage#KnowYourCentralBank pic.twitter.com/gYWLZQ8ZIe
— Central Bank of Rwanda (@CentralBankRw) August 1, 2025
This latest update comes one year after the apex bank outlined plans for a CBDC within two years as part of the country’s broader efforts to modernize its financial system and establish itself as a significant participant in the evolving global economy.
[TECH] CBDC | The National Bank of Rwanda Outlines Plans for a Central Bank Digital Currency in 2 Years: Rwanda is aiming to launch its own national Central Bank Digital Currency (CBDC) within the next two y.. https://t.co/1jB8Yhu0WG via @BitcoinKE
— Top Kenyan Blogs (@Blogs_Kenya) June 11, 2024
Proof-of-Concept Stage & Ideathon
In August 2025, BNR launched a retail CBDC ideathon, calling on fintechs, startups, innovators, and the public to help shape the digital currency’s design and future use cases. Concurrently, the bank has initiated a closed-loop proof-of-concept (PoC) with a select group of participants – commercial bank staff, merchants, and institutions – to test essential features such as offline payments, USSD access for feature phones, cybersecurity, and the legal framework. This phase is scheduled to run for five months, with results expected by October 2025.
The National Bank of #Rwanda is launching a Retail CBDC Ideathon to explore the future of digital currency for Rwanda!
This exciting event invites individuals, startups, fintechs, and innovators to collaborate, share ideas, and shape the potential e-Franc-Rwandais.
Together,… pic.twitter.com/o113YJ9tIl
— Central Bank of Rwanda (@CentralBankRw) August 1, 2025
Four Strategic “Sweet Spots”
BNR zeroed in on four key benefits of pursuing a CBDC:
Resilience During Network or Power Disruptions Offline-enabled CBDC transactions could maintain financial access during blackouts or connectivity issues—particularly important in rural areas.
Stimulating Innovation and Competition With mobile money currently dominated by a duopoly, a CBDC could lower transaction costs and encourage new players to enter the market.
Reducing Cash Handling Costs As cash circulation grows, so do costs related to printing, storage, and handling. A digital alternative could help cut these expenses.
Faster, Cheaper, More Transparent Remittances Particularly for regional corridors like Tanzania–Rwanda, a retail CBDC could significantly reduce remittance fees and processing times, while enhancing transparency.
BNR emphasizes that the CBDC would complement rather than replace cash or existing digital systems, offering an additional layer of accessible and inclusive payment options. Unlike cryptocurrencies, a CBDC is legal tender-backed and regulated by the central bank – and designed to be stable, non‑speculative, and widely accepted.
As #Rwanda explores a Central Bank Digital Currency, the aim is to expand access, improve functionality, and enhance the financial ecosystem with secure, efficient, and inclusive options.
Learn how CBDC enhances your payment experience alongside existing methods.#CBDC… pic.twitter.com/wiyY4RM3cw
— Central Bank of Rwanda (@CentralBankRw) August 3, 2025
BitKE highlighted that BNR began its feasibility study as early as March 2022, involving economic, legal, functional, and financial assessments of a potential retail CBDC.
Rwanda Reportedly Studying the Possibility of Issuing a CBDC: https://t.co/BfQD3GVqED via @BitcoinKE pic.twitter.com/R71510AGOD
— davgit (@DavGit) June 21, 2021
The public was invited to provide feedback via a questionnaire sometime in mid-2024, underscoring BNR’s intent to weigh public acceptance carefully before advancing. The analysis covered economic, functional, legal, and financial aspects, identifying key challenges in Rwanda’s financial Sector and payment systems. This study also assesses possible opportunities for a CBDC and other alternatives, laying a solid foundation for Rwanda’s future digital financial landscape.
As reported by BitKE in 2024, the feasibility study reaffirmed the four core benefits:
Resilience
Innovation
Cashless support, and
Remittance efficiency
but also advised proceeding cautiously with phased validations (PoC and pilots).
CBDC | National Bank of Rwanda (BNR) Seeks Public Views on a CBDC Ahead of Possible Proof-of-Concept
The Proof-of-Concept phase will allow the National Bank of Rwanda to experiment with a CBDC within a controlled, limited setting, aiming to gain understanding of the technology… pic.twitter.com/bGdwpC27ok
— BitKE (@BitcoinKE) May 7, 2024
As Rwanda progresses toward a potential 2026 roll-out, this structured and consultative approach – rooted in research, PoC testing, public engagement, and technical collaboration – positions the country to navigate the complex landscape of CBDCs thoughtfully and responsibly.
‘We Want to Determine If There is Even a Need for a #CBDC,’ Says Bank of #Botswana
According to the bank’s reps, the process is still quite far from a point where the bank would be able to determine whether a CBDC is introduced or not.https://t.co/evHtRajJsq @BankofBotswana pic.twitter.com/JZZtsLsdX8
— BitKE (@BitcoinKE) August 7, 2025
Stay tuned to BitKE for deeper insights into the African CBDC space.
Join our WhatsApp channel here.
Follow us on X for the latest posts and updates
Join and interact with our Telegram community
_________________________________________