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Implications of a U.S. CBDC for International Payments and the Role of the Dollar

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Abstract

Technological advances in recent decades have brought about a wave of private-sector innovation in payments and have led central banks to explore a variety of improvements to their payment systems, including the possibility of issuing a central bank digital currency (CBDC). Survey evidence from the Bank for International Settlements (BIS) shows that over 90% of central banks are exploring CBDCs (Kosse & Mattei, 2022). The Federal Reserve is also exploring the implications of, and options for, introducing a CBDC.

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  • Jean Flemming & Ruth A. Judson, 2024. "Implications of a U.S. CBDC for International Payments and the Role of the Dollar," FEDS Notes 2024-02-16, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2024-02-16
    DOI: 10.17016/2380-7172.3435
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