The real-world assets platform, Gluwa, is exploring the potential to assist in the development and launch of Liberia’s central bank digital currency. To increase the likelihood of the digital currency’s success, Gluwa is also considering the launch of a satellite-based internet service.
Making the Digital Currency Compatible with Liberia’s Mobile Money System
Gluwa, a real-world assets platform, is considering the possibility of launching Liberia’s Central Bank Digital Currency (CBDC). According to a statement, Tae Oh, the platform’s CEO, recently met with Liberian President Joseph Boakai. The two reportedly discussed making the proposed CBDC compatible with the country’s mobile money system.
In addition to discussing the CBDC’s launch, the two parties also addressed how Gluwa could help solve one of Liberia’s most pressing problems: slow internet connectivity, especially in rural areas. Solving this problem will not improve access but could potentially increase the CBDC’s chances of success.
According to the statement, the real-world assets platform plans to overcome this challenge by launching a satellite-based internet service.
“Gluwa’s ISP solution also aims to provide the necessary infrastructure to support the complementary usage and accessibility of the country’s CBDC solution, and as a result, enhance overall accessibility to digital financial services across the country,” Gluwa said.
News of Gluwa’s potential partnership with the Liberian government emerged just weeks after the real-world assets platform was reportedly named as the Nigerian central bank’s most recent digital currency technology partner. The CEO of Gluwa has also discussed the ongoing development of Ghana’s CBDC with the country’s Vice President, Mahamudu Bawumia.