CBDC projects aim to complement cash – BIS survey
Many central banks are creating “hybrid” CBDCs, according to survey of 32 projects
New research published by the Bank for International Settlements takes a detailed look at 32 different central bank-issued digital currency (CBDC) projects.
“None of the designs we survey is intended to replace cash; all are intended to complement it,” say authors Raphael Auer, Giulio Cornelli and Jon Frost. “In countries where digital payments are already very advanced, and cash use is declining, central banks may respond in particular to ensure the ongoing availability of a public sector
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