Uganda Launches CBDC Pilot as Kenya Nears Crypto Regulation Approval

Uganda has taken a decisive step into the digital finance era with the launch of a central bank digital currency (CBDC) pilot. The digital Ugandan shilling, backed by treasury bonds and accessible via smartphones, aims to enhance financial inclusion and transparency. This initiative aligns with global standards, including stringent KYC and AML protocols.

Meanwhile, Kenya stands on the brink of regulatory clarity as its VIRTUAL Asset Service Provider (VASP) bill awaits presidential assent. The legislation, already passed by parliament, could catalyze institutional crypto adoption across East Africa.

Sub-Saharan Africa's crypto market continues its meteoric rise, processing $205 billion in transactions between July 2024 and June 2025. The continent's user base is projected to surpass 75 million by 2026, underscoring blockchain's transformative potential in emerging economies.