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As countries around the world continue to experiment with central bank digital currencies (CBDCs), financial stability is a key concern.

“The one thing I would pick up on is the importance of making sure that we don’t cause unnecessary disruption in the financial system. If we do choose to introduce the central bank digital currencies, it has to be done in a way that doesn’t cause financial stability problems,” said Scott Hendry, senior director of financial technology, Bank of Canada during a Sibos panel this week.

Other central banks are further ahead in development. The People’s Bank of China’s proposal is a hybrid legal tender that would operate alongside the private sector.

Read our full article, here.

Emma Olsson

PaymentEye