Covid-19 could accelerate CBDC development – BIS economists

Fear could promote use of CBDCs but data is yet to point to whether cash demand has changed

ATM cash point

The Covid-19 outbreak may accelerate issuance of a central bank digital currency (CBDC), according to new research from the Bank for International Settlements.

Early in March, a spokesperson for the World Health Organization triggered public concerns by commenting that the virus could be easily transmitted by cash. The WHO later clarified its position, saying it is not advising people to abandon cash.

Despite widespread scientific evidence suggesting cash remains safe, the pandemic has forced

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