Successful completion of field trials paves the way for broader rollout of Central Bank Digital Currency in Papua New Guinea.
Highlights:
- Successful Completion: The Bank of Papua New Guinea has successfully completed field trials for its Central Bank Digital Currency (CBDC), the Digital Kina.
- Collaboration: The project was supported by Japanese technology company Soramitsu and Japan’s Ministry of Economy, Trade, and Industry.
- Future Plans: The bank plans to expand testing with a broader user base to refine the system and gather additional feedback before a broader rollout.
Summary: The Bank of Papua New Guinea has successfully completed field trials for its Central Bank Digital Currency (CBDC), the Digital Kina. Supported by Japanese technology company Soramitsu and Japan’s Ministry of Economy, Trade, and Industry, the project demonstrated a secure, round-the-clock payment infrastructure that supports instant settlement and cross-border transactions.
Moving forward, the bank plans to expand testing with a broader user base to refine the system and gather additional feedback before a broader rollout.
