WEF forms framework to help central banks evaluate, design digital currency

Amid growing interest in digital currency, the WEF and a community of over 40 central banks, international organisations, academic researchers and financial institutions have created a framework to help central banks evaluate, design and potential deploy such instruments.

Announcing the framework, the World Economic Forum (WEF) said the National Bank of Cambodia has already piloted a quasi-form of CBDC (Central Bank Digital Currency) for its national payments system.

Besides, the central banks of Bahrain, Thailand and Uruguay are applying the toolkit to their CBDC evaluation process, while the People’s Bank of China and Eastern Caribbean Central Bank are also among early movers.