BIS Calls on Countries to Cooperate in CBDCs Development
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The Bank for International Settlements (BIS) has called on countries to cooperate in the early stages of the development of national digital currencies (CBDCs), as according to the regulator, this is necessary to simplify the cross-border operation of the system.

The organization's experts have noted:

"CBDC systems that coexist and are interoperable with domestic as well as other cross-border transfer arrangements avoid fragmentation and inefficiencies in payment systems, ensure competition and facilitate adoption of CBDCs."

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The regulator believes central banks can agree on a common set of standards or use different "bridging" systems. At the same time, the BIS has admitted that there is no universal solution:

"Central banks have different motivations for exploring or developing CBDC systems, and the demand for improved cross-border payment rails differs across jurisdictions. Therefore, this report serves as a tool for central banks to assess different cross-border CBDC design options given their objectives."

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