Central bank digital currencies (CBDCs) could remove the need for a third-party intermediary in cross- border transactions.
Some central banks are evaluating the possibility of making CBDCs available as an alternative to, or replacement for, cash.
CBDCs used at a wholesale level stand to revolutionise the global payments system as we know it by enabling the real-time settlement of cross-border financial transactions without the need for third-party intermediaries.
Yet some central bankers are delving even further by examining whether CBDCs could be made available to the general public as an alternative to, or a complete replacement for, physical cash.
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