Indian central bank governor: CBDC has the potential to promote efficient cross-border payments

Central bank digital currencies are an area with the potential to drive efficient cross-border payments, according to Shaktikanta Das, governor of the Reserve Bank of India. India has once again become one of the few countries to launch both wholesale and retail central bank digital currencies, or CBDCs. Currency for cross-border payments, and to overcome serious financial stability concerns associated with cryptocurrencies. A key challenge may be that countries may prefer to design their own systems based on their own considerations. (Jinshi)