South African central bank sees no immediate need for retail CBDC

The South African Reserve Bank (SARB) has stated that a central bank digital currency (CBDC) is not necessary in the short term. According to Cointelegraph, SARB explained in a report that while it is technically feasible to issue a CBDC, there is no immediate need for a retail version. The bank added that it will continue to monitor global trends and is prepared to respond if necessary. For now, its focus will be on developing CBDCs for wholesale and cross-border payments.