The Bank of Israel released a two-tier model where it issues the digital currency and private-sector Payment Service Providers (PSPs) manage customer interactions such as onboarding and transaction services.

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The Bank of Israel released a two-tier model where it issues the digital currency and private-sector Payment Service Providers (PSPs) manage customer interactions such as onboarding and transaction services.

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"As with most other proposed CBDCs, private-sector Payment Service Providers (PSPs) will handle onboarding and customer-facing services, while the Bank of Israel will oversee issuance and system rules."
"The central bank’s committee had previously identified six possible motivations for issuing a digital shekel, which included creating an alternative payment system and infrastructure (...)"

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