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Why the sudden interest in central bank digital currencies (CBDCs)?
- Wednesday | 28th April, 2021
Here’s what you need to know about central bank digital currencies (CBDCs):WHAT’S THE IDEA? But access to central bank money beyond physical cash has so far been restricted to financial institutions like banks. But this is created by commercial banks, based on central bank money credited electronically to their accounts. It could also exist in an account directly managed by the central bank or an intermediary bank. The European Central Bank is exploring the launch within the next five years of a digital euro.
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