Central banks accelerate digital currency plans as PBOC surges ahead

Theasianbankersg07 Sep, 2020Finance

Central banks are undertaking extensive work on digital currencies to improve the cost, security, speed and reach of transactions to eventually accelerate the growth of cashless ecosystems, with the Chinese central bank seemingly ahead. The pandemic may well serve as a catalyst for the shift to agile and accessible payment infrastructures, putting central bank digital currencies (CBDCs) into sharper focus.