Uganda Launches $5.5 Billion Tokenized Economy with Global Settlement Network
The Global Settlement Network and Diacente Group in Uganda are launching a $5.5 billion tokenized economy, combining real-world infrastructure and a national CBDC to drive economic growth.
Project Overview
The project aims to digitize the real infrastructure assets in the Diacente Group in Gisez, including agro-processing centers, mining operations, and solar plants, to create a fully integrated digital economy with an asset-backed economy.
As part of the rollout, Uganda has launched its first CBDC, deployed on the Global Settlement Network’s permissioned blockchain, which will enable secure digital transactions in this new tokenized economy.
Key Features and Benefits
The initiative is aligned with national and regional development goals and is expected to create over 1 million jobs and generate up to $10 billion in annual exports.
According to a press release shared with Crypto.news, the Global Settlement Network (GSN), a leading blockchain infrastructure provider, has partnered with Uganda’s Diacente Group to launch this tokenized economy in Africa.
The Karamoja Green Industrial and Special Economic Zone (Gisez) will serve as the flagship effort and provide the physical infrastructure for tokenization, developed and managed by Diacente Group.
Central Bank Digital Currency (CBDC) and Regulatory Compliance
Uganda launched its first central bank digital currency, a digital version of the shilling backed by government bonds, which is deployed on GSN’s permissioned blockchain and accessible via smartphones and USSD.
This system allows over 40 million people to conduct secure digital transactions for the first time, following full regulatory compliance, including KYC and AML protocols.
Partnership and Expected Outcomes
“This partnership goes beyond infrastructure. It is about unlocking long-term value for our people and our region,” said Edgar Agaba, Chairman of Diacente Group.
“By integrating tokenization and CBDCs into Uganda’s development roadmap, we are creating transparent, tech-driven ecosystems that attract new capital, empower local industries and scale sustainable growth from the ground up.”
The initiative is expected to drive economic growth, create jobs, and increase annual exports, aligning with Uganda’s Vision 2040, the African Union’s Agenda 2063, and the African Continental Free Trade Area (AFCFTA).
Conclusion
The launch of Uganda’s $5.5 billion tokenized economy, in partnership with the Global Settlement Network, marks a significant step towards driving economic growth and development in the region.
For more information on this initiative, visit https://crypto.news/uganda-pilots-cbdc-in-5-5b-tokenized-economy-initiative-with-global-settlement-network/
