Rwanda’s digital currency to launch by 2025, will work like physical cash—BNR

By The Inspirer.

The National Bank of Rwanda (BNR) has reassured the public that its planned Central Bank Digital Currency (CBDC), set to launch in 2025, will operate like physical cash, reliable, accessible, and fully backed by the government.

In a televised interview on Sunday, BNR official Serge Mugiraneza clarified that, unlike volatile cryptocurrencies, Rwanda’s CBDC will be fully regulated and backed by the central bank to ensure price stability and public trust.

“CBDC is a digital currency issued and controlled by the Central Bank,” Mugiraneza said. “Its value and usage will be regulated, unlike cryptocurrencies, which are not governed by national monetary authorities and are prone to high volatility.”

BNR emphasized that the CBDC is not intended to replace existing digital payment systems like Mobile Money, debit cards, or online banking. Instead, it will serve as a complementary tool—offering key advantages such as the ability to make payments without internet access.

“The goal is to extend the benefits of digital finance to everyone, including those in remote areas,” Mugiraneza added.

Ingrid Cyuzuzo, Director of Financial Sector Development and Innovation at BNR, said the central bank is conducting a thorough feasibility study to ensure the digital currency meets technical, legal, and security standards.

“We’re evaluating more than just technology,” Cyuzuzo noted. “This includes legal frameworks, security infrastructure, and usability to ensure the digital franc serves all Rwandans effectively.”

On August 1, BNR confirmed that the CBDC project had entered a new phase involving limited pilot testing and consultations with financial sector stakeholders.

The digital currency is expected to be transacted via mobile apps, USSD codes, and physical cards—allowing use even in areas without internet coverage.

The central bank aims to finalize the regulatory and operational framework by October 2025, with a view to introducing the CBDC to the public soon after. If implemented successfully, Rwanda could position itself as a leader in digital currency innovation across Africa.