The Bank of Papua New Guinea has marked the successful completion of field trials for the country’s Central Bank Digital Currency (CBDC).
The PoC required a secure, round-the-clock payment infrastructure that supports instant settlement and cross-border transactions. The Digital Kina project was supported by Japanese technology company Soramitsu and Japan's Minsitry of Economy, Trade and Industry,
Using Soramitsu's SORA v3 Hub Chain, the Bank of Papua New Guinea and local businesses in Port Moresby conducted real-time payments and individual remittances via a user-friendly mobile app.
The platform’s enhanced security features — such as the ability to recover funds in cases of theft or loss — were also tested successfully.
Moving forward, the Bank of Papua New Guinea says it will expand testing with a broader user base to refine the system and gather additional feedback. This will pave the way for a broader rollout in the near future.
George Awap, assistant governor of the Bank of Papua New Guinea, says: “Today’s ceremony is a testament to what can be achieved when innovative ideas meet practical execution. The Digital Kina CBDC Proof of Concept is a glimpse into how we can reshape financial interactions in Papua New Guinea. By addressing long-standing challenges, we’re setting the stage for a system that reflects the resilience of our people."