The Central Bank of the Kingdom of Eswatini has introduced a project for the digital Lilangeni (CBDC) with support for online wallets and smart cards 💳, maintaining pseudo-anonymity while complying with KYC and AML requirements.

The Central Bank of the Kingdom of Eswatini has issued a document describing the project for a central bank digital currency (CBDC) – the digital Lilangeni. This currency will be used as a tokenized retail CBDC, functioning on a distributed database rather than blockchain. The project specifies that the digital Lilangeni will have online wallets managed by financial institutions, as well as physical wallets (possibly in the form of smart cards) that will be able to operate offline. The currency will be distributed by financial institutions through infrastructure managed by the central bank and will ensure pseudo-anonymity while meeting KYC and AML requirements. Programmable payments may be implemented, such as for automating transactions or restricting expenses for children.