Future of Money

And the innovation gap is not just on CBDCs. FedNow, the long-awaited interbank settlement system, has taken years longer than comparable systems in Europe.

Explore CBDC evolution in 2023, including key developments from central banks and what is next for the digital euro.

Given the extent of financial sanctions following its full-scale invasion of Ukraine, Russia is trying to open alternative channels for cross-border payments.

Imagine a network that combines both messaging and settlement to become a one-stop shop for international payments. It’s time for the US and its allies and partners to make that idea a reality.

The e-CNY network has expanded over the last year, and China’s goals have only become clearer. Domestically, the People’s Bank of China is still in test-and-learn mode, globally, China is more focused on setting defining international standards.

The New York Federal Reserve’s latest project shows the United States making its presence felt in the digital-currency race.