Cross-border payments between financial institutions, businesses and individuals are slow-moving and costly. New technologies have opened the possibility of central bank digital currencies and stable coins addressing these frictions, and policymakers are exploring upgrades to existing systems. This panel will discuss when new payment innovations are necessary, how to balance the trade-off between regulation and data flow restrictions and next steps for promoting international co-ordination on and implementing standards.
This conversation was part of the OMFIF Digital Monetary Institute Symposium 2021. Click here for more information and to register for the 2022 Symposium.