Colombian Government to Test CBDC on Cosmos Network

According to Odaily, Interchain Labs Co-CEO Maghnus Mareneck has revealed that the Colombian government plans to test a central bank digital currency (CBDC) on the Cosmos network. Mareneck stated that the initiative is a collaboration with a banking alliance and the Colombian government, focusing on cross-border payment scenarios. Although specific details have not been disclosed, the CBDC will operate using IBC Eureka technology on the Cosmos network. It will utilize private and permissioned validation nodes, with the potential for the government to introduce additional nodes, such as banks, to expand the network.