IMF working on global central bank digital currency platform

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IMF working on global central bank digital currency platform
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RABAT : The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. 'CBDCs should not be fragmented national propositions... To have more efficient and fairer

RABAT : The International Monetary Fund is working on a platform for central bank digital currencies to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday.

A CBDC is a digital currency controlled by the central bank, while cryptocurrencies are nearly always decentralised. "If countries develop CDBCs only for domestic deployment we are underutilizing their capacity," she added.

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