The IMF is developing a platform for CBCD

The IMF organization announced its work to create a platform to conduct cross-border payments with digital currencies of central banks (CBCD). This was reported by Reuters.

What are the goals of the IMF

The organization is headed by Kristalina Georgieva. She believes that national digital currencies should not be only within one state. In order to achieve efficiency and fairness in conducting transactions, you need to make a system that allows you to connect CBCD countries. This requires compatibility. The specialist called it the main reason.

The aim of the IMF is to coordinate the central banks of the countries of common regulatory standards for CBCD, creating common compatibility. If there is no such agreement, then a vacuum will be created, which will be filled by ordinary digital assets. She additionally reported that 114 Central Banks are already investigating CBCD at different stages. Approximately ten of the list are already at the finish line or have completed development.

She also noted that CBCD will allow to expand access to financial services. At the same time, money transfers will make it cheaper. She also noted that the average commission is about 6.3% for such operations. During the year, the amount reaches $ 44 billion.

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