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Breaking news: Ethereum Developer Virgil Griffith Pleads Guilty to Conspiracy Charge in North Korea Sanctions Case

Central Bank Digital Currencies Not a 'Fad,' MetLife Investment Says

The investment giant predicts CBDCs will continue gaining steam, although a "launch among Western countries seems unlikely to occur anytime soon."

Jan 16, 2021 at 8:59 p.m. UTC
Updated Sep 14, 2021 at 10:57 a.m. UTC

Institutional investor MetLife Investment Management (MIM) has released a new macro strategy primer outlining the forthcoming role of blockchain-based assets, particularly central bank digital currencies (CBDCs).

  • MIM, founded in 1868, states that CBDCs are a logical progression of money and technology that are "unlikely [to] be a passing fad," according to the primer released Jan. 8.
  • The investments giant also notes that a "true CBDC launch among Western countries seems unlikely to occur anytime soon" as key technical questions have yet to be addressed.
  • "However, just as the dreams of cryptocurrency developers tend to be rather lofty, so are those of various CBDC initiatives," the document states.
  • MIM had some $651 billion in assets under management (AUM), as of September 2020.

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