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Kiwis gear up for a cashless future

WELLINGTON (CU)_As digital innovations continue to take charge of the way we make payments, many central banks around the world are looking at the possibility of issuing their own digital currencies. Although the Central Bank of the Bahamas is the only regulator to issue its own Central Bank Digital Currency (CBDC) so far, many other countries are set to follow suit over the coming years. The Central Bank of Nigeria (CBN), is all set to launch its e-naira tomorrow, while the Bank of England the US Federal Reserve are currently researching the area. China is also said to be prepared to digitise the Yuan by next year.

Accordingly, the Reserve Bank of New Zealand (RBNZ) has also decided to…

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