Stablecoins, CBDCs Don’t Present Inherent Risk to Financial Stability: Bank of England Executive Says
Christina Segal-Knowles played down concerns that the traditional banking model would be undermined.
Smaller countries such as Greece, Latvia, Lithuania and Estonia would be hit the hardest.
“Central banks are considering a variety of [multi-CBDC] arrangements,” BIS researchers wrote.
The fintech lead at U.K.’s central bank urged eco-conscious citizens not to “throw the blockchain baby out with the bitcoin bathwater.”
BCB said the timeframe for a CBDC depends on the evolution of its current projects and the international landscape.
A central bank official said Nigeria has been researching CBDCs for two years.