Central bank of Egypt wants to introduce a digital version of the Egyptian pound to reduce costs

Egypt is considering digitizing its national fiat, the Egyptian Pound, according to local news outlet Amwal Al Ghad.

The sub-governor of the Central Bank of Egypt Ayman Hussein has stated that “feasibility studies” are currently being conducted, and that this was a way of reducing issuance and transaction costs. Several international institutions are reportedly involved, while the original article has not mentioned if the currency will be uses between banks, or among citizens as well.

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Source: https://www.cryptodigest.com/featured/egypt-considering-digital-egyptian-pound/