Mauritius mulls wrapping metaverse into financial services

The Financial Services Commission (FSC) of Mauritius started collecting feedback from industry stakeholders and the general public regarding the inclusion of metaverse within the financial services industry.

The FSC dedicated the entire month of November to gathering comments on the strategic developments and repercussions of the metaverse,

Mauritius is also expected to launch the pilot phase of a digital rupee in November 2023. However, an official release is still pending.

On April 28, the governor of the Bank of Mauritius, Harvesh Kumar Seegolam, said he prioritized CBDC development when he took office in 2020:

“As a central banker, I need not stress upon the determining role that CBDCs can play, not only in protecting monetary sovereignty but also in assisting central banks and regulatory authorities on the front of AML/CFT [Anti-Money Laundering/Combatting the Financing of Terrorism].”

Seegolam said the Bank of Mauritius “is contemplating” launching a digital rupee pilot phase in November.