The Central Bank of Bolivia plans to launch a new type of cryptocurrency for international settlements

ChainCatcher news, according to Bitcoin.com, the Central Bank of Bolivia, under the leadership of President Edwin Rojas Ulo, is designing a new cryptocurrency called "Virtual Boliviano," aimed at international settlements.

It is reported that the proposal will be officially announced during the celebration of Bolivia's 200th Independence Day on August 6. To ensure the robustness of the design, the central bank is collaborating with international institutions and other central banks. Officials stated that the "Virtual Boliviano" is expected to modernize the payment system while helping to save foreign exchange reserves.