Central Bank Digital Currency (CBDC)

A digital form of a country’s national currency, issued and fully backed by the central bank. CBDCs represent a new type of money that exists only in electronic form, intended to provide a secure and efficient means of payment and store of value. Unlike cryptocurrencies, CBDCs are regulated by the government and aim to complement or replace physical cash in the economy. They can be used by individuals and businesses for everyday transactions, offering benefits such as faster payments, increased access to financial services and enhanced transparency.