Israel announces plans for interest-bearing shekel CBDC

Israel’s central bank will support a new Israeli shekel central bank digital currency (CBDC) that has the option of bearing interest.

The Bank of Israel outlined that its shekel CBDC will be implemented in a two-tier model, with instant, 24/7 payments, multipayment support, offline use, limitations on balances and an option for the CBDC to become interest-bearing.