A group of researchers writing for the Bank of International Settlements released a paper last week that explores the implications of central bank digital currencies (CBDCs) and how varying approaches to these emerging technological applications could improve conditions for cross-border payments.
To be sure, the paper comes as the majority of central banks hold an R&D-centric posture when it comes to CBDCs. But widening tests in China and the launch of the so-called Sand Dollar in the Bahamas last October are signals that such initiatives are likely to continue to grow in number.
The paper — “Multi-CBDC arrangements and the future of crossborder payments” — digs into the wonky details of how CBDC systems, especially those involving multiple currencies within a single framework — could ease some of the long-standing issues around cross-border payments, including AML/KYC regulations, slow processing times, and outdated technology.
Notably, the paper’s authors position such ap
Animoca Brands Japan’s New COO to Set Rivalry for Web3 Companies
1 To hold a strong grip in the field of Metaverse and Web3, Animoca Brands Japan appointed Kensuke…
