The Bank of Israel is accelerating its research for the potential issuance of a central bank digital currency, or CBDC.
In a statement from the central bank on Tuesday, the Bank of Israel said it was preparing an action plan to explore the benefits of a digital shekel to the economy. Though the bank said it had not yet decided whether to issue a central bank digital currency, it added it would be prepared to do so should the benefits “outweigh the costs and potential risks.”