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Money is one among the various things that have experienced technology’s Midas touch. Currencies are now going through a digitisation experience. Roughly 105 countries, representing over 95% of global GDP, are exploring Central Bank Digital Currency (CBDC) for their citizens.
CBDCs are the latest in a series of innovations underway in money markets. They are virtual currencies backed and issued by a country’s central bank. And they have been developed to increase financial inclusion and counteract the growing influence of cryptocurrencies and stablecoins.
