PRESS RELEASE

Monrovia, Liberia, March 14th, 2024, Chainwire

Gluwa’s CEO, Tae Oh, humbly met the President of Liberia, Joseph Boakai, to discuss enhancements to Liberia’s financial and internet connectivity infrastructure. 

Gluwa, known for its blockchain innovations such as Credal, which powers public blockchain infrastructure, is exploring the possibility of building a Central Bank Digital Currency (CBDC) for Liberia. The initiative would require extensive compatibility with Liberia’s existing mobile money system, as President Boakai recognizes its critical role in Liberia’s digital economy.

President of Liberia. Joseph Boakai pictured with Tae Oh, CEO of Gluwa and Akin Jones, Director of Gluwa. 

The discussion extended to address one of Liberia’s most pressing challenges: its slow internet connectivity, which stands as a significant barrier to digital inclusivity, especially in rural areas. To support the overcoming of this challenge, Gluwa proposed the introduction of a satellite-based Internet Service Provider (ISP) specifically designed to extend low-cost internet connectivity to rural areas. Gluwa’s ISP solution also aims to provide the necessary infrastructure to support the complementary usage and accessibility of the country’s CBDC solution, and as a result, enhance overall accessibility to digital financial services across the country. 

Gluwa’s CEO Tae Oh’s meetings with top officials within African countries serve as humbling opportunities to learn more about each government’s commitment to economic growth and inclusion through technological solutions. 

Read about Gluwa’s recent announcements:

About Gluwa

Gluwa is a pioneering L1 blockchain platform designed for the documentation and matching of credit transactions. It establishes a public ledger that records credit histories and loan performances, setting the stage for a new era of interoperable cross-chain credit markets. By collaborating with technology partners and fintech lenders, such as Aella, and engaging with financial institutions in global emerging markets, Gluwa’s Creditcoin framework is facilitating capital financing, building credit histories, and fostering trust among millions of financially underserved individuals and businesses, guided by the principles of Real World Assets (RWA).

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