Uruguay’s central bank is testing out its own digital currency, joining a growing group of other nations doing the same.
The Banco Central del Uruguay (BDC) said that it has engaged a focus group to test the transfer of cryptocurrency funds via a mobile-based app.
According to CoinDesk, BCD President Mario Bergara said at the “The Future of Money and the Financial System,” conference that this digital currency would function like cash. He didn’t disclose if the currency would run on a blockchain-based platform is still not clear.
According to a statement released to the Herald Tribune, Bergara said:
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We are fairly close to launching from BCU a pilot program for a limited number of digital-currency users, which is an experiment in transforming physical bills into electronic ones,”