CBK tips new digital shilling to take on high M-Pesa charges The proposed Central bank digital currency (CBDC) will help bring down the transaction fees currently charged on digital payments in what could make it the biggest competitor to Kenya's mobile money sector. The banking regulator says the virtual currency that will be exchangeable on a one-to-one basis with physical cash would work in a similar way to the existing mobile money product in the market, with users able to transfer it between wallets or accounts. The Kenyan Central Bank in its aim above will ultimately… a) … reduce the amount of M2 money. b) … reduce the amount of bank notes and coins in circulation. c) … increase the amount of M1 money. d) … reduce the amount of bank notes and coins
CBK tips new digital shilling to take on high M-Pesa charges
The proposed Central bank digital currency (CBDC) will help bring down the transaction fees currently
charged on digital payments in what could make it the biggest competitor to Kenya's mobile money
sector.
The banking regulator says the virtual currency that will be exchangeable on a one-to-one basis with
physical cash would work in a similar way to the existing mobile money product in the market, with
users able to transfer it between wallets or accounts.
The Kenyan Central Bank in its aim above will ultimately…
a) … reduce the amount of M2 money.
b) … reduce the amount of bank notes and coins in circulation.
c) … increase the amount of M1 money.
d) … reduce the amount of bank notes and coins
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