The Central Bank of Venezuela will launch a central bank digital currency (CBDC) in October alongside a monetary redenomination that will cut six zeros from the currency due to raging inflation.
As of Oct. 1, the digital Venezuelan bolivar will begin circulation in the economy. Its cash equivalent will get a new 1-bolivar coin, along with banknotes ranging from 5 bolivars to 100 bolivars as part of the six-zero readjustment of the currency.