The IMF is working on a global platform for digital currencies
The International Monetary Fund (IMF) has announced plans to create a global platform for the implementation of Central Bank Digital Currencies (CBDCs). But the agency warned that if not well designed, it could pose substantial risks to the financial system and the economy. News Reuters.
The Washington-based IMF recognizes the benefits of having a standardized CBDC platform, which will help bridge the financial gap, said IMF Managing Director Kristalina Georgieva.
'CBDCs can help increase inclusion by giving more people access to financial services, and at lower costs, strengthen the resilience and efficiency of payment systems, and make cross-border payments and remittances cheaper and faster,' he said.
