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Central bank digital currencies (CBDCs) could ease current frictions in cross-border payments – and particularly so if central banks factor an international dimension into CBDC design from the outset. Based on a survey of 50 central banks in the first quarter of 2021, this paper explores initial thinking on the cross-border use of CBDCs. While most central banks have yet to take a firm decision on issuing a CBDC, the survey responses show a tentative inclination towards allowing use of a future CBDC by tourists and other non-residents domestically. They have a cautious approach to allowing use of a CBDC beyond their own jurisdiction. Concerns about the economic and monetary implications of cross-border CBDC use and about private sector global stablecoins are taken seriously. At the wholesale level, 28% of surveyed central banks are considering options to make CBDCs interoperable by forming multi-CBDC arrangements. This involves arrangements that enhance compatibility, interlink or even integrate multiple CBDCs into a single payments system. Finally, almost 14% of respondents are considering an active role for the central bank in FX conversion.

Innovation hub run by BoE and BIS hub likely to concentrate on CBDCs and payments, official says

Keynote by Mr Burkhard Balz, Member of the Executive Board of the Deutsche Bundesbank, at the Digital Finance Conference, BITKOM, virtual event, 10 June 2021.

The central bank digital currency project will test cross-border settlement between French and Swiss fiat currencies.

Project Jura will link national CBDC initiatives in bid to facilitate cross-border payment

Fintech 2025 Strategy announced by the Hong Kong Monetary Authority (HKMA), Includes comprehensive CBDC plan.

The Hong Kong Monetary Authority has enlisted its e-HKD development as part of its Fintech 2025 strategy.

The Bank of England (BoE) has long indicated it is interested in new forms of digital currencies such as Stablecoins and central bank digital currencies. In the past, the Bank has wondered about the impact to monetary policy and possible risk regarding the issuance of

"The threats posed by crypto show that congress and federal regulators can't continue to hide out, hoping crypto will go away," said the Massachusetts senator.

Opening remarks by Mr Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, at The Hong Kong Association of Banks (HKAB) Fintech Seminar: Next Phase of Hong Kong's Fintech Journey – "Fintech 2025", 8 June 2021.

The CPMI invited authors – from academia, public institutions (including central banks), special interest groups and the private sector – to submit policy-oriented, theoretical, legal and/or empirical papers. Following a review by the conference committee, the papers included in this section were selected to be either presented at the conference or to be published as part of the conference proceedings.

Almost 50 central banks have already launched designs for central bank digital currencies (CBDCs) or prototypes. We ask what the rationale for issuing a CBDC is and how these objectives shape its economic design, as well as the architecture of the underlying technical systems.

Stablecoins may require tailored regulation and access to emergency liquidity facilities, paper says

The Bank of Ghana Governor, Ernest Addison said the agency is now “in the advanced stages” of introducing its CBDC.