Uganda Launches CBDC in $5,5 Billion Tokenized Economy Project

• Uganda Launches CBDC on Global Settlement Network Blockchain
• Tokenized economy expected to generate up to US$10 billion in exports
• Project expected to create more than 1 million jobs

The Ugandan government has officially begun testing a $5,5 billion tokenized economy in partnership with the Global Settlement Network (GSN) and Diacente Group. The initiative includes the launch of the country's first central bank digital currency (CBDC), issued on GSN's permissioned blockchain, as part of an effort to build an integrated and sustainable digital financial infrastructure.

According to the statement, the project aims to digitize real-world infrastructure assets managed by Diacente Group—such as agro-processing centers, mining operations, and solar power plants—within the Karamoja Green Industrial and Special Economic Zone (GISEZ). These assets will be tokenized to enable secure, transparent, and traceable transactions throughout the new digital economy.

Uganda's CBDC, backed by government bonds, was developed to be accessible via smartphones and USSD codes, enabling over 40 million citizens to make digital payments and transfers. The solution strictly adheres to KYC (Know Your Customer) and AML (Anti-Money Laundering) standards, ensuring compliance with international regulations.

In addition to symbolizing technological advancement, the project aims to stimulate economic growth and financial inclusion in the country. Estimates indicate that the initiative could generate more than 1 million jobs and generate up to US$10 billion in annual exports, aligning with the development goals of Uganda's Vision 2040, the African Union's Agenda 2063, and the African Continental Free Trade Area (AfCFTA).

“This partnership goes beyond infrastructure; it’s about generating long-term value for our people and our region,”

said Edgar Agaba, president of Diacente Group.

“By integrating tokenization and CBDCs into Uganda's development roadmap, we are creating transparent, technology-driven ecosystems that attract new capital, strengthen local industries, and drive sustainable growth from the ground up.”

The Global Settlement Network, in turn, highlighted that Uganda's model could serve as a reference for other African nations seeking to adopt CBDCs and tokenized economies as drivers of innovation and continental integration.