KATHMANDU: The Nepal Rastra Bank (NRB) has started preparations to issue its own digital currency.
The central bank has started carrying out a feasibility study of Central Bank Digital Currency (CBDC), which is in the final stage.
NRB had included the feasibility study of digital currency in the monetary policy of the current fiscal year. The central bank is preparing to conduct the feasibility study in the context that such studies are being conducted throughout the world.
NRB had formed a six-member task force under the coordination of Anuj Dahal, director of the Currency Management Department to conduct the feasibility study. Executive Director of the department Revati Prasad Nepal said that the study report would be ready this month.
The digital currency to be issued by the central bank will be fully legalized, which is called Central Bank Digital Currency (CBDC).
Such currency is kept safe like gold, dollar and other commodities while issuing paper money.