Benin is part of the eight member countries(Cote d’Ivoire, Burkina Faso, Benin, Togo, Mali, Niger, Senegal and Guinea-Bissau.) of the West African Economic and Monetary Union (WAEMU). The regional bank Banque Régionale de Marchés (BRM) partnered with eCurrency Mint — a Dublin-based company that specialises in creating digital currencies for central banks. Given that most of the population in the region does not have access to banking system, eCFA had the potential to overcome existing obstacles to financial inclusion. The eCFA was first launched in Senegal and then eventually the plan got cancelled and it never rolled out in Benin.
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