South Africa: Reserve Bank Reports Successful Results of DLT-Based Payment System for Interbank Settlement Experiment

On June 5, 2018, the South African Reserve Bank (SARB) published a report about Project Khokha, an initiative focused on creating a simulated environment for an interbank payments settlement system based on distributed ledger technology (DLT).

SARB established a Fintech Unit to assess the emergence of fintech, its regulatory and strategic implications and its expected contributions to innovative and collaborative initiatives in the fintech area. The Fintech Unit determined three initial initiatives to explore:

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