A retail CBDC is a central bank digital currency designed for direct use by the general public for everyday payments and transactions. It serves as a digital form of fiat money, issued and backed by a central bank. This contrasts with wholesale CBDCs, which are for interbank use.
Context
Central banks globally are actively researching and piloting retail CBDCs to modernize national payment systems, enhance financial inclusion, and maintain monetary sovereignty. News reports frequently cover the policy implications and design choices for these digital currencies, including privacy considerations and potential impacts on commercial banking. It represents a significant shift in public money provision.
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