Israel launches digital shekel CBDC experiment for payments

The Bank of Israel launched the CBDC experiment taking inspiration from the Project Rosalind carried out by the BIS Innovation Hub.

Israel intends to expedite the development of its in-house central bank digital currency (CBDC), the digital shekel.

The Bank of Israel (BoI) plans to involve various service providers in co-developing an advanced digital payments ecosystem centered on the digital shekel. A rough translation of the central bank’s announcement read:

Project Rosalind is a joint experimentation between the Bank for International Settlements (BIS) and the Bank of England, which aims to develop prototypes for an application programming interface.

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