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Peru considering CBDC to improve payment system
source link: https://fintechranking.com/2023/04/05/peru-considering-cbdc-to-improve-payment-system/
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Peru considering CBDC to improve payment system
The Central Reserve Bank of Peru (CRBP) has published a paper that it said will be the first in a series to examine the need, design and timing of a Peruvian central bank digital currency, reported John Kiff, research director at the Sovereign Official Digital Association (SODA). His report concentrates on issues relating to a retail CBDC.
The status quo of competing payments systems in Peru is untenable, the CBRP wrote, but the introduction of a CBDC, combined with new policies to improve the access and interoperability of existing systems, would help the central bank overcome barriers to financial inclusion and lower costs for transactions.
Read more: Cointelegraph
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