Cryptocurrency
Fed chair Powell: A central bank digital currency could improve the payment system in the U.S.
Fed chair Powell: A central bank digital currency could improve the payment system in the U.S.: As reported at The Block, “Jerome Powell, the chairman of the U.S. Federal Reserve, has acknowledged that a central bank digital currency (CBDC) could lead to improvements in the broader payment system in the U.S. During a panel discussion on […]
Fed chair Powell: A central bank digital currency could improve the payment system in the U.S.:
As reported at The Block, “Jerome Powell, the chairman of the U.S. Federal Reserve, has acknowledged that a central bank digital currency (CBDC) could lead to improvements in the broader payment system in the U.S.
During a panel discussion on cross-border payments hosted by the International Monetary Fund (IMF) on Monday, Powell said that ‘there are a number of ways a CBDC might improve the payment system, and it is this area that motivates our interest.’
A CBDC could help facilitate faster and cheaper payment transactions, said Powell, adding that such a currency could also help modernize payment infrastructure and reach consumers traditionally underserved by financial institutions…”