BUSINESSThe world’s biggest central banks are revving up work to issue digital cash to fend off emerging threats to traditional money and to make payments systems smoother. Here’s what you need to know about central bank digital currencies (CBDCs):What’s the idea? But access to central bank money beyond physical cash has so far been restricted to financial institutions such as banks. But this is created by commercial banks, based on central bank money credited electronically to their accounts. They could also offer a new tool for central banks to transmit monetary policy and keep economies stable.

Source: News 24 April 29, 2021 14:59 UTC