The government of Cuba plans to attract additional funding and get away from US sanctions.
Cuba is exploring the possibility of issuing a national cryptocurrency for use in national and international commercial transactions, said the country’s economy minister, Alexandro Gil Fernandez, according to Reuters. Due to this, the government plans to provide funding for civil servants, social services and the media.
The head of the republic, Miguel Diaz-Kanel, stressed that the plan for issuing cryptocurrency is being developed in order to attract capital for a quarter of the population and to provide support in financing reforms. At the moment, the technical details of the project are not known yet.