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Bank of Israel explores digital Shekel amid global CBDC trends

The Bank of Israel is exploring the possibility of introducing a digital Shekel to improve the country's payment system and foster innovation. However, it is waiting for other advanced economies, particularly the European Central Bank (ECB), to launch their own digital currencies before making a decision. As of March, 134 countries were exploring digital versions of their currencies. The Bank of Israel has been experimenting with a digital Shekel along with other central banks and the Bank for International Settlements. The bank is conducting a behavioural study to determine whether the public would adopt a digital currency.

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