GRP anchors gold, so it not only has the value storage function of gold, but also has the portability, transparency and liquidity of digital currency
, which solves the problem of traditional gold logistics.
The founder and CEO of peer-to-peer payments company Circle has opined that China's digital currency
would help the nation bypass Western banking systems.
Wang Xin, head of the research bureau at the PBOC, said in June that the central bank is paying "high attention," to Libra and would ramp up the development of its digital currency
Another group that believes digital currency
is a passing fad.
The digital currency
system will take some time to bridge the gaps, and no can underestimate the methods hackers can engage in.
'These regulations will help combating money laundering and terrorism financing while it will also help regulation of digital currency
throughout the country,' said sources adding the FATF had warned of use of digital currency
by terror organisations.
"We saw what was going on in the digital currency
The central bank-based digital currency
will make cross-border financial transactions more secure and financially efficient.
MOST central banks do not expect to issue a digital currency
within the next decade as they take a cautious approach to electronic money.
Summary: The UAE and Saudi Arabia have started using fintech for cross-border settlements, including a digital currency
which they jointly developed for that purpose.
IMF head Christine Lagarde said central banks around the world should consider issuing digital currency