A group of major central banks and commercial banks have published research setting out radical ideas for the future of cross-border payments.
One particularly striking idea is to link the world’s economies together by means of a wholesale central bank digital currency, underpinned by a single global token.
The research collaboration brought together the Monetary Authority of Singapore, Bank of Canada and Bank of England – which have made some of the largest advances on applications of
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- Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner