The Central Bank of Rwanda has launched a 12-month pilot program for a central bank digital currency following a successful proof of concept completed in late 2025.
Building on a successful proof of concept
The National Bank of Rwanda (NBR) has announced a 12-month Central Bank Digital Currency (CBDC) pilot program following research findings that recommend a privacy-conscious design for the country’s future digital money.
The pilot, announced on February 26, will involve a diverse group of users in the second city of Kigali and some rural areas. The pilot will prioritize financial inclusion by testing simple channels such as unstructured supplementary services data (USSD) and low-cost devices to ensure accessibility for underserved communities, Xinhua reported. Merchants and other stakeholders will participate in managed real-world use cases, while central banks will collaborate with domestic and international partners on interoperability and cross-border application possibilities.
The initiative follows the completion of a five-month proof of concept (PoC) from May to October 2025. This stage confirmed that Rwanda’s indigenous CBDC can enable secure, instant payments, foster financial innovation, and support the country’s digital economy goals.
Research paper recommendations
A recent NBR research paper recommends a two-tier, universal, zero-interest rate CBDC with partial pseudo-anonymity. The study identified 15 opportunities for CBDC implementation, highlighting four areas with particularly high potential. According to the paper, the introduction of CBDC is believed to strengthen financial inclusion while supporting innovation and competition. It will also strengthen resilience to power outages and advance Rwanda’s cashless economy goals.
The concept of partial pseudo-anonymity is intended to balance user privacy and regulatory oversight, allowing transactions to remain private to some degree while still being traceable based on legal or compliance requirements.
NBR stressed that the pilot will be conducted with strong safeguards, including privacy by design, cybersecurity protection and close collaboration with financial institutions. Officials said the program is a milestone in Rwanda’s journey towards a more digital, resilient and inclusive financial system.
Frequently asked questions ❓
- What is Rwanda testing in its CBDC pilot? The National Bank of Rwanda is running a 12-month pilot to explore the use of digital currency in urban and rural areas.
- How will pilots improve financial inclusion? Using USSD and low-cost devices, digital payments can be accessed even by those who do not own a smartphone.
- What did the Rwanda research paper recommend? A two-tier CBDC with partial pseudo-anonymity that balances privacy and regulatory oversight.
- Why is this pilot important for Rwanda? Supports secure, instant payments and advances the country’s cashless economy goals.
