IMF to Create a Global Infrastructure for CBDCs
Last summer, the Bank for International Settlements (BIS) announced the need for software that would enable central banks to issue and handle their own Central Bank Digital Currency (CBDC).
The institution believes that the introduction of such tokens could result in a transformative upgrade to the global financial infrastructure.
Kristalina Georgieva, the head of the International Monetary Fund (IMF), has also showed agreement with this idea and declared that the IMF is currently working on creating a platform for CBDC transactions, as well as supportive legislation to govern the movement of funds in the digital currencies.
Bloomberg has reported Georgieva as saying that 10 of the 14 central banks involved in the project are ready to participate in the establishment of the platform, and that most issues have already been resolved.
In closing, Georgieva emphasized that all of them would be working together for the creation and implementation of CBDC.
