Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

CBDC

The Bank for International Settlements Published A Series Of Reports About Usage Of CBDCs In Emerging Market Economies.

A volume of papers from the Bank for International Settlements (BIS) points out that payment system efficiency is the top motivation for central banks in emerging market economies experimenting with central bank digital currencies (CBDCs) or considering such an approach.

The document, published on Thursday, is made up of a series of papers that were prepared for a meeting of deputy governors of central banks from emerging economies, which happened on February 9 and 10.

“Providing a cash-like digital means of payment, in light of reduced cash usage and an increase in private digital payment services, is the most common consideration [for CBDB issuance],” it says.

The report includes countries such as Brazil, Hong Kong, Mexico, South Africa and the United Arab Emirates.

It also points out that central banks in emerging market economies prioritize financial inclusion and focus on cyber security risks, potential bank disintermediation and cross-border spillovers.

Featured

Crypto News

Bear markets always appear to be long, drawn-out affairs, but the steep downtrend only really lasts a year or so. The crypto industry hit...

Altcoin

Polygon (MATIC) posted the highest 24-hour gains today and surpassed Bitcoin and Ethereum in that department as the altcoin mounts a bounce back following...

Crypto Exchange

The collapse of FTX.com and its far-reaching impacts will hinder North Korea’s ability to profit from cryptocurrency hacks, Troy Stangarone, senior director at the...

Crypto News

Market sentiment in the United States around the crypto market is recovering, said the founder of crypto analytics portal CryptoQuant, based on the Coinbase...