We are at a turning point in the history of money in Egypt. The central bank has officially approved the launch of onebank — the first integrated digital bank, which will start providing its services from 2026. This is not a new app... it's a transformation that will change the culture of money itself.

The culture of Egyptians has always been linked to cash; money in hand is security. But with digital banks and the digital pound, money will be numbers on a screen. This transformation is not easy but is inevitable because electronic payments are growing rapidly. Now, transactions through electronic wallets in Egypt have reached billions of pounds annually, and the number of active wallets is nearly 40 million.

The central bank is also preparing for the idea of CBDC, the digital pound, and this is not crypto like Bitcoin; rather, it is an official stable currency issued by the state.

Its goal is to facilitate financial inclusion because about 30% of Egyptians still do not have bank accounts, accelerate remittances, reduce reliance on cash, and also give the state greater ability to monitor the flow of money.

But... if done wrong, it could cause problems like people withdrawing their deposits from banks and putting them directly into digital pound wallets, and this is called disintermediation, which harms the liquidity that banks need for lending.

Danger or opportunity?

Now, global capital is pumping billions into crypto; in America, for example, giant investment funds like BlackRock have entered Bitcoin, and in emerging markets, stablecoins like USDT and USDC have become essential tools for quick transfers.

If Egypt continues to ban without regulating, the market will operate under the table without taxes, oversight, and protection. But if a clear law is made, we could benefit from investment flows, especially since we have a large market of over 100 million and external remittances worth tens of billions annually.

The biggest challenge = law and trust.

For this game to work, there needs to be an amendment to the central bank law that gives the authority to issue a national digital currency and regulate digital assets.

There must be a fair tax framework where those who profit from crypto or digital investment contribute a small part to the economy, but without strangling the market.

There must be ironclad cybersecurity. Any breach or leak will immediately break the trust of the people.

And most importantly, people's culture must change from cash to thinking of money as data that works and moves.

onebank = the infrastructure.

The digital pound = the official step.

Crypto organization = the gateway to global investment.

If Egypt smartly handles these three, it could become a regional digital financial hub in the Middle East and Africa, and if it delays or approaches the issue half-heartedly, the market will remain operating in the shadows, and the opportunity will fly to Dubai or Nigeria.

And this is obviously just an analysis and opinion 😊👻

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