By Yuefen Li
China, India and South Africa are among the countries that have started to internationalize their currencies. Central bank digital currencies (CBDCs) have also been developed to help speed up settlements of cross-border transactions. According to the International Monetary Fund (IMF),8 as of July 2022, there were nearly 100 CBDCs in research or development stages, and two have been fully launched. Many countries are testing these digital currencies with the aim, among others, of using them in trade transactions in their own currencies. CBDCs can potentially reduce their countries’ reliance on the dollar in addition to digitalizing financing.
https://internationalbanker.com/finance/the-dollar-still-dominates-but-de-dollarization-is-unstoppable/
Hey Walt, what have I been telling you?
China, India and South Africa are among the countries that have started to internationalize their currencies. Central bank digital currencies (CBDCs) have also been developed to help speed up settlements of cross-border transactions. According to the International Monetary Fund (IMF),8 as of July 2022, there were nearly 100 CBDCs in research or development stages, and two have been fully launched. Many countries are testing these digital currencies with the aim, among others, of using them in trade transactions in their own currencies. CBDCs can potentially reduce their countries’ reliance on the dollar in addition to digitalizing financing.
https://internationalbanker.com/finance/the-dollar-still-dominates-but-de-dollarization-is-unstoppable/
Hey Walt, what have I been telling you?