The Central Bank of Bolivia plans to launch a new type of Crypto Assets for international Settlement.

According to Mars Finance, as reported by Bitcoin.com, the Central Bank of Bolivia, under the leadership of President Edwin Rojas Ulo, is designing a new type of encryption currency called “Virtual Boliviano,” aimed at international settlement. It is reported that the proposal will be officially announced during the 200th anniversary celebration of Bolivia’s independence on August 6. To ensure the robustness of the design, the Central Bank is collaborating with international institutions and other central banks. The official stated that the “Virtual Bolivar” is expected to modernize the payment system while helping to save forex reserves.