Colombia plans to test CBDC on the Cosmos network for cross-border payments

According to Bitcoin.com, Interchain Labs Co-CEO Maghnus Mareneck revealed that the Colombian government will test an undisclosed central bank digital currency (CBDC) on the Cosmos network.

Mareneck stated that they are working with the banking alliance and the Colombian government to conduct the pilot. Although details were not disclosed, it was clarified that the currency focuses on cross-border payment scenarios and will operate based on the Cosmos network using IBC Eureka technology. This CBDC will use private and permissioned validation nodes, and the government can later introduce more nodes, such as banks, to expand the network.