Definition ∞ A sovereign digital currency is a digital form of a nation’s official currency, issued and fully backed by its central bank. It serves as legal tender within the country and aims to modernize payment systems while preserving monetary sovereignty. This currency represents a direct liability of the central bank.
Context ∞ Central banks globally are evaluating sovereign digital currencies to enhance financial stability, improve payment efficiency, and maintain control over monetary policy in an increasingly digital world. News reports frequently cover the policy debates, technical developments, and geopolitical implications of these initiatives. Their introduction marks a significant evolution in national monetary systems.
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