Citibank explores the potential of Central Bank Digital Currencies (CBDCs) to revamp securities settlements based on securities firms survey.
CBDCs are digital currencies backed by national central banks, and have caught Citibank’s attention due to their promise for quicker and more efficient settlements for securities firms.
With securities transactions being a critical pillar of the global financial system, any improvement in settlement speed can have profound implications. CBDCs can potentially minimise delays, reduce costs, and mitigate the risks associated with traditional settlement methods.
Citibank recognises the potential of CBDCs to transform not just securities but other facets of banking as well. Its move resonates with a broader trend where financial institutions globally are turning their attention to digital currencies, particularly CBDCs, to streamline operations and enhance customer experiences.
However, while the prospects of CBDCs are promising, their full-scale
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