Colombia will launch CBDC pilot on Cosmos network

According to Bitcoin.com, Maghnus Mareneck, co CEO of Interchain Labs, revealed that the Colombian government will test an undisclosed central bank digital currency (CBDC) on the Cosmos network. With the announcement of this news, this new CBDC has just surfaced, and Colombia aims to use it for cross-border payments. Colombia has become the latest country in Latin America to join the exploration of CBDC. Mareneck stated that they are collaborating with the banking union and the Colombian government to conduct a pilot project. Although details have not been disclosed, it is clear that the currency focuses on cross-border payment scenarios and will operate based on the Cosmos network and utilize IBC Eureka technology. Mareneck emphasized that the relevant technology stack can be privately utilized by the Colombian government without relying on public infrastructure, which is of great significance for ensuring system security. This CBDC adopts private and licensed verification nodes, and the government can introduce more nodes such as banks to expand the network in the future.