Bank

United

Bitcoin

Reserve

would

The South African Reserve Bank says it doesn’t see a need for a central bank digital currency in the near term, instead saying the country should modernize its payments system.
The South African central bank said in a paper <a href="https://www.resbank.co.za/en/home/publications/publication-detail-pages/Fintech/sarb-position-paper-on-the-necessity-of-a-retail-cbdc-in-south-a" rel="noopener noreferrer nofollow">released</a> on Thursday that there was no “strong immediate need” for a retail CBDC, though deploying one was technically feasible.
It said that existing initiatives, such as a program to modernize the payments system and expand non-bank participation in the national payment system, should remain the priority for now.
<blockquote>
 “While the SARB does not currently advocate for the implementation of a retail CBDC, it will continue to monitor developments and will remain prepared to act should the need arise.”
</blockquote>
The central bank will shift its focus toward exploring <a href="https://cointelegraph.com/learn/articles/wholesale-cbdc-vs-retail-cbdc-key-differences" rel="noopener noreferrer nofollow">wholesale CBDC</a> applications and cross-border payment efficiency, while continuing to monitor retail CBDC developments, it stated.&nbsp;
<h2 id="central-bank-issues-crypto-and-stablecoin-warning">Central bank issues crypto and stablecoin warning</h2>
The research examined whether a retail CBDC would address gaps in South Africa’s payment system, revealing that challenges persist as roughly 16% of adults remain unbanked.&nbsp;
For a CBDC to succeed, it would need to match or exceed the benefits of cash, including offline functionality, universal acceptance, low costs, ease of use, and privacy features, it stated.&nbsp;
Related: <a href="https://cointelegraph.com/news/south-africa-central-bank-crypto-stablecoins-financial-risk" rel="noopener noreferrer nofollow">South Africa’s central bank flags crypto, stablecoins as financial risk</a>
South Africa has turned against crypto recently, with a warning from its central bank about crypto and stablecoins.&nbsp;
In a report <a href="https://cointelegraph.com/news/south-africa-central-bank-crypto-stablecoins-financial-risk" rel="noopener noreferrer nofollow">released</a> earlier this week, the SARB flagged “crypto assets and stablecoins” as a new risk for technology-enabled financial innovation.&nbsp;
The bank also cautioned that crypto can be used to circumvent Exchange Control Regulations, which control the inflows and outflows of funds to <a href="https://cointelegraph.com/learn/articles/cryptocurrency-regulations-in-south-africa" rel="noopener noreferrer nofollow">South Africa</a>.
<h2 id="cbdc-race-continues-across-the-globe">CBDC race continues across the globe</h2>
Only three countries have officially launched a CBDC: <a href="https://cointelegraph.com/learn/articles/nigeria-enaira-cbdc" rel="noopener noreferrer nofollow">Nigeria</a>, Jamaica and The Bahamas, <a href="https://www.atlanticcouncil.org/cbdctracker/" rel="noopener noreferrer nofollow">according</a> to the Atlantic Council CBDC Tracker.&nbsp;
There are 49 countries that have CBDCs in a pilot testing phase, 20 countries actively developing one, and 36 countries are researching a CBDC. Meanwhile, the United States <a href="https://cointelegraph.com/news/cbdc-dead-trump-stablecoins" rel="noopener noreferrer nofollow">shelved</a> its CBDC plans under the Trump administration.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-11/019ac893-cc3e-7b40-9bb8-1ea637e989cc" title="" alt="South Africa’s central bank says no ‘strong immediate need’ for CBDC">
 <figcaption>
 CBDC race continues globally. Source: Atlantic Council
 </figcaption>
</figure>
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-price-prediction-us-government-whatsapp-hodlers-digest/" rel="noopener noreferrer nofollow">Bitcoin $200K soon or 2029? Scott Bessent hangs at Bitcoin bar: Hodler’s Digest</a>

South Africa’s central bank says no ‘strong immediate need’ for CBDC

Table of Contents

Cointelegraph

Other articles published on Nov 28, 2025

Join our free newsletter for daily crypto updates!