The Central Reserve Bank of Peru (CRBP) has published a paper that it said will be the first in a series to examine the need, design and timing of a Peruvian central bank digital currency (CBDC), John Kiff, research director at the Sovereign Official Digital Association (SODA), reported. The report concentrates on issues relating to a retail CBDC.

“The objective of a CBDC within the framework of the payment system in Peru is to give the unbanked population access to digital payments, so it is important to know their characteristics to prepare an implementation strategy.”