More central banks likely to issue their own digital currencies

LONDON (Reuters) – A rising number of central banks are likely to issue their own digital currencies in the next few years, research by the Bank for International Settlements (BIS) showed on Thursday, as interest in the technology heats up. Some 20% of 66 central banks surveyed by the BIS said they were likely to issue a digital currency within the next six years, up from around 10% a year earlier. In all, 80% of central banks said they were looking at the technology, up from seven in ten surveyed last year. Of the central banks surveyed by the BIS, around a third were from advanced economies and the remainder from emerging markets. The Hong Kong and Thai central banks said on Wednesday they had moved closer to using CBDCs to make cross-border payments more efficient.

Read Full Article Here

If You Like This Story, Support NYOOOZ



Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.

Related Articles