Wholesale Digital Cash refers to a form of digital currency designed for use by financial institutions for interbank settlements and large-value transactions. Unlike retail digital currencies intended for public use, wholesale digital cash is restricted to a limited set of authorized participants. It aims to enhance the efficiency and security of financial market infrastructures.
Context
The development of wholesale digital cash, often explored by central banks and commercial banks, is a key area of innovation in modernizing payment systems. Its potential benefits include faster, more secure, and more cost-effective interbank settlements, particularly across borders. A critical debate centers on its design, governance, and interoperability with existing financial market infrastructures, influencing the future structure of wholesale finance and its integration with digital asset systems.
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