Venezuela to launch CBDC in October — and cut six zeros from its currency
Cointelegraph
Published Aug 05, 2021 09:03PM ET
Updated Aug 05, 2021 10:40PM ET
The Central Bank of Venezuela will launch a CBDC in October alongside a monetary redenomination that will cut six zeros from the currency due to raging inflation.
As of Oct. 1, the digital bolivar will begin circulation in the economy. Its cash equivalent will get a new 1-bolivar coin, along with banknotes ranging from 5 Bs. to 100 Bs. as part of the six zero readjustment of the currency,
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Written By: Cointelegraph
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