Central bank digital currencies may disrupt financial systems: Fitch ANI | Updated: May 22, 2021 13:32 IST
London [UK], May 22 (ANI): The broader adoption of general-purpose central bank digital currencies (CBDCs) will present authorities with trade-offs between the associated risks and benefits, according to Fitch Ratings.
The key benefits of retail CBDCs lie in their potential to enhance authority-backed cashless payments with innovations in step with the wider digitalisation of society.
For central banks in some emerging markets, a key driver for researching CBDCs is the opportunity to bring underbanked communities into the financial system and improve the cost, speed and resilience of payments.