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Cryptocurrencies

Cryptocurrencies

Central Bank Digital Currency (CBDC)

The following report was prepared and published by our sister platform SPEEDA—February 2024.

Trend Overview

Dual Forms of Central Bank Digital Currency to Streamline Retail and Wholesale Transactions

Central Bank Digital Currency (CBDC) is a digital representation of a country's fiat currency issued by a central bank (CB) to serve as a legal tender. It is a payment instrument that could either replace traditional paper money or coexist alongside it, representing the national unit of account. CBDC can be categorised into two types based on usage—wholesale and retail—according to the Bank for International Settlements (BIS).

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