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

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

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