Central bank digital currencies, reserve currencies and geopolitics

Publication Date
Systemic Risk Centre Special Papers SP 21
Publication Date
Financial Markets Group Special Papers SP 263
Publication Authors

When it comes to central bank digital currencies (CBDCs), the focus of market participants and regulators – especially in the banking industry – is mainly associated with their disruptive nature. Instead, we focus this analysis on their geo-strategic implications, including for the business of offering and accumulating foreign exchange reserves.