The Bank of Israel will launch a digital shekel challenge to explore the use of CBDC in the payment field

The Bank of Israel announced that it will launch the "Digital Shekel Challenge" to explore the use of CBDC in the payment field. The Bank of Israel said it has built a technical prototype that simulates the core of the digital shekel system, which can be accessed by payment service providers to provide payment options to the public. The Bank of Israel has not yet decided whether to issue a central bank digital currency (CBDC), although it continues its multi-year exploration of the technology.