The Next Day in Cryptos and CBDCs
Bank of International Settlements (BIS) asked from all member – states to cooperate between them to design the next CBDCs. The goal of that cooperation would be the next day in the financial world could be as borderless as it can.
As it is known, CBDCs are designed from Central Banks from every country to assist their digital transformation in the currency space. The problem that will be created are the cross-border transactions between those currencies.
For this reason, BIS have set some criteria for CBDCs and how they will be designed for the better experience for the users in the next years. We will wait to see if respective partnerships will be effective in the crypto space as they are expected to have their role in the global economy, with more institutional way.