World Bank, IMF, and BIS Advocate for CBDC Adoption at G20

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Today’s Headlines

The International Monetary Fund (IMF) and the World Bank discussed the cross-border benefits of central bank-issued digital currencies (CBDC), claiming that projects like the United States’ digital dollar would promote global development.

Together with the Bank for International Settlements (BIS), the global organizations released a document saying that innovation on digital currencies will reduce the need to rely on expensive and delayed money transfer services to transport money worldwide. The document was issued for a G20 summit in Italy, which brought together finance ministers and central bankers from the world’s top nations.