Support on CBDCs

A new report released by the BIS indicates that it supports Central Bank Digital Currencies, terming CBDCs as a distinct representation of money for the digital market. Commonly known as the bank of central banks, BIS acknowledges that CBDCs introduce several solutions ranging from transparency, settlement finality, and liquidity. The commerce industry is gradually moving to the internet, making it necessary to implement CBDCs for global retail payments and the public good. Therefore, going to the report, approximately 56 central…