Things up speeding up in the digital currency space. More countries are coming around to the idea that a central bank digital currency (CBDC) is not only a viable alternative to existing decentralized cryptocurrencies, but also a necessary counterbalance to the US dollar’s dominance as the primary reserve and trade currency. China is about to launch its state-backed cryptocurrency, and several other nations poised to follow. But, the US and South Korea are bucking the trend. In the non-public arena, Facebook’s Libra is more likely to happen than not, which will only accelerate global cryptocurrency adoption.
To read this Market Insight, you’ll need to sign in
If you don’t have a subscription, get in touch for a free trial.