European Central Bank Called CBDC the Best vehicle for cross-border payments

According to the results of a study, made by the European Central Bank (ECB), on the definition of the final medium for cross-border payments, central bank digital currencies (CBDC) are much more popular than wire transfers, Bitcoin (BTC), and stablecoins or other means.

The ECB has recognized CBDCs as more suitable for cross-border payments, as this type of currency is more convenient given its compatibility with currency market conversions. CBDC allows you to maintain monetary sovereignty while providing instant payments through intermediaries (central banks).

At the same time, the ECB noted that Bitcoin is a poor cross-border payment system due to its volatility, and problems with scaling and speed. Although in its study, the ECB did not take into account the two latest updates to the Bitcoin network, Taproot and Lightning Network.

Post a Comment