The Central Bank of Azerbaijan (CBA) is set to implement a Digital Currency Platform and ensure its full integration into the country's existing financial ecosystem.
According to Operative Information Center-OMM, this strategic initiative is outlined in the "Action Plan for 2026-2028 on Accelerating Digital Development," which was approved today by President Ilham Aliyev.
The primary objective of establishing the platform, as stated in the official document, is to enhance cost efficiency and transparency in financial transactions across Azerbaijan. The implementation of the measures specified in the Action Plan will be funded by the state budget and other legally approved sources.
The introduction of a Central Bank Digital Currency (CBDC) represents a significant step in Azerbaijan's broader digital transformation strategy. By modernizing the national payment infrastructure, the government aims to reduce the shadow economy, streamline cross-border payments, and provide more secure digital financial services to citizens and businesses. This move aligns with global financial trends as central banks worldwide explore digital versions of national currencies to foster innovation and financial inclusion.
