Fantom Foundation to help develop Tajikistan’s digital currency

Fantom Foundation announced a partnership with one of Tajikistan’s oldest banks, Orienbank, to develop the country’s national digital currency (CBDC).

Fantom’s technologies are used to digitize Tajikistani somoni for retail and commercial payments. The project is being carried out in collaboration with the Central Bank of Tajikistan. The future CBDC platform will also integrate the Iron Bank protocol.

After initial testing of the digital currency, Orienbank and Fantom plan to continue the project within the Tajikistan central bank’s sandbox.

In April, the Ministry of Industry and New Technologies of the republic entered into an agreement with Fantom Foundation to use its blockchain solutions for the operation of the e-government infrastructure.

Note that the status of cryptocurrencies in Tajikistan not regulated. Nevertheless, authorities require miners to pay taxes.

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