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Report claims ‘full-scale mCBDC networks’ could save $100B per year
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Many powerful stakeholders are desperate to cut down on costly cross-border remittance fees. In this context, the IMF had noted that more than 100 countries are reportedly looking into CBDC development. Of late, several central banks have been working together to achieve the same.
To that end, a report by J.P. Morgan and Oliver Wyman recently showed just how much money could be saved with the use of multiple or multi-currency Central Bank Digital Currencies known as mCBDCs.
Bringing international central banks together to create and test a platform for CBDC remittances in various currencies is no easy – or affordable – feat. The savings must justify the input costs. Well, to make a long story short, the report claimed,
“A full-scale mCBDC
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