India’s Digital Rupee Usage Drops Drastically After Initial Surge

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India's Digital Rupee Usage Drops Drastically After Initial Surge

India's central bank digital currency (CBDC), the digital rupee, has experienced a significant decline in usage, decreasing to a tenth of its peak in December 2023, according to sources involved in the pilot project. The Reserve Bank of India (RBI) initially reached 1 million daily retail transactions with the digital rupee by incentivizing banks and […]

Source: India's Digital Rupee Usage Drops Drastically After Initial Surge