“This will bring people together through faster and cheaper payments, and countries together through a more stable and cohesive international monetary system.”
The International Monetary Fund (IMF) has announced they are working on a new global central bank digital currency (CBDC), to ultimately transition away from the paper cash system in what they are referring to as “a new vision.”
At a conference in Rabat, Morocco on Monday, officials at the IMF said they want central banks to reach an agreement for a common regulatory framework for cross-border CBDC payments, unlocking digital interoperability. If not established, the group believes that this will create a void taken over by decentralized cryptocurrencies.
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