The National Bank of Rwanda (NBR) has announced a 12-month central bank digital currency ( CBDC) pilot program, following research that recommended a privacy-conscious design for the country’s future digital money.

The pilot, unveiled Feb. 26, will involve a diverse group of users across Kigali, a secondary city, and selected rural areas. According to a Xinhua report, the pilot will prioritize financial inclusion by testing simple channels such as unstructured supplementary service data (USSD) and low-cost devices to ensure accessibility for underserved communities. Merchants and other stakeholders will participate in controlled, real-life use cases while the central bank collaborates with domestic and international partners on interoperability and potential cross-border applications.

The initiative follows the completion of a five-month proof of concept (PoC) between May and October 2025. That phase confirmed that a Rwanda-specific CBDC could enable secure, instant payments, foster financial innovation, and support the country’s digital economy objectives.

A recent research paper from the NBR recommended a two-tier, universal, zero-interest CBDC with partial pseudo-anonymity. The study identified 15 opportunities for CBDC adoption but highlighted four areas with particularly high potential. According to the paper, CBDC adoption is seen as enhancing financial inclusion while supporting innovation and competition. It also strengthens resilience against outages and advances Rwanda’s cashless economy goals.

The concept of partial pseudo-anonymity aims to balance user privacy with regulatory oversight, allowing transactions to remain private to a degree while remaining traceable under legal or compliance requirements.

The NBR emphasized that the pilot will be conducted with strong safeguards, including privacy-by-design, cybersecurity protections, and close coordination with financial institutions. Officials described the program as a milestone in Rwanda’s journey toward a more digital, resilient, and inclusive financial system.

• What is Rwanda testing with its CBDC pilot? The National Bank of Rwanda is running a 12‑month pilot to explore digital currency use across cities and rural areas.
• How will the pilot improve financial inclusion? It will use USSD and low‑cost devices so even people without smartphones can access digital payments.
• What did Rwanda’s research paper recommend? A two‑tier CBDC with partial pseudo‑anonymity to balance privacy and regulatory oversight.
• Why is this pilot important for Rwanda? It supports secure, instant payments and advances the country’s cashless economy goals.

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