New Zealand starts work on CBDC

Wednesday 2 March 2022 13:14 CET | News

New Zealand’s Central Bank has announced commencing design work for a Central Bank Digital Currency (CBDC).

A CBDC would provide a platform for economic and financial innovation, including competition in the payments and settlement sector, cross-border transfers, and financial inclusion and capability building tools.

The initiative empowered by public involvement is something New Zealanders hope could speed up the digital adoption of digital currencies and other forms of digital cash instruments – cryptocurrencies and NFTs including.

Currently, no decision has yet been made on what form of CBDC is right for New Zealand.

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Keywords: central bank, banks, CBDC, digital currency, cryptocurrency
Categories: DeFi & Crypto & Web3
Countries: New Zealand
This article is part of category

DeFi & Crypto & Web3