PANews reported on May 22 that according to Bitcoin.com, Interchain Labs co-CEO Maghnus Mareneck revealed that the Colombian government will test a yet-to-be-announced central bank digital currency (CBDC) on the Cosmos network. With this news, the new CBDC has just emerged, and Colombia aims to use it for cross-border payments.
Colombia has become the latest country in Latin America to join the CBDC exploration. Mareneck stated that they are collaborating with a banking alliance and the Colombian government to conduct a pilot. Although details have not been disclosed, it is clear that the currency focuses on cross-border payment scenarios and will be based on the Cosmos network, utilizing IBC Eureka technology. Mareneck emphasized that the relevant technology stack can be privately used by the Colombian government without relying on public infrastructure, which is crucial for system security. The CBDC will use private and permissioned validation nodes, and the government can subsequently introduce more nodes such as banks to expand the network.
