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A new paper by SWIFT and Accenture explores how to take the role of central bank digital currencies (CBDCs) in cross-border payments to the next level.
Federal Reserve and European Central Bank among institutions that contributed to report laying out key requirements for CBDCs. China’s PBOC wasn’t involved.
Keenly awaited by corporate treasurers, a central bank digital currency between Hong Kong and Thailand has taken a further step towards becoming a reality.
It seems fitting that China - the first country in the world to invent paper money - should also be the first to go cashless. But could it create more problems, particularly for payments, than it solves?