Digital dollar could reduce unbanked in US by 93% – Dallas Fed paper

Inclusion need not come at the cost of disintermediation, researchers find

Federal Reserve Bank of Dallas
Federal Reserve Bank of Dallas
Photo: Andreas Praefcke

A central bank digital currency (CBDC) could increase financial inclusion without cutting bank intermediation, a paper from the Federal Reserve Bank of Dallas finds.

Authors Jeremie Banet and Lucie Lebeau say a digital dollar with half the fixed costs of bank deposits could decrease exclusion from the banking system by 93%.

The Dallas Fed economists measured inclusion as the percentage of people with access to digital money, be it bank deposits or CBDC. They measured the intermediation of the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account