IMF Developing Global Digital Currency Platform for Central Banks

The International Monetary Fund (IMF) is developing a global platform for central bank digital currencies (CBDCs) to enable cross-border transactions. The IMF wants central banks to agree on a common regulatory framework for digital currencies that will allow global interoperability. Failure to agree on a common platform would create a vacuum that would likely be filled by cryptocurrencies. CBDCs could also help promote financial inclusion and make remittances cheaper.