Cross-border payment inefficiencies are a significant barrier to trade both within Latin
America and the Caribbean (LAC) and between LAC and other regions. This paper provides …

This Note explores the design and governance of platforms to enhance cross-border
payments in line with public policy goals. While much innovation in recent years has more …

Purpose Fiat money production necessitates physical commodities, increasing costs and its
flow is challenging to monitor, making it vulnerable to criminal exploitation. Cryptocurrencies …

This fintech note looks at how capital flow measures (CFMs) could be implemented with
central bank digital currency (CBDC), and what benefits, risks and complexities could arise …

INTRODUCTION The global economy in the decades ahead will be volatile and uncertain. 1
A first driver of the volatility and uncertainty is the reconfiguration of the global political …

Cross-border payments are expensive, slow, and opaque. These problems reflect multiple
frictions, many of which boil down to limited trust among counterparties. Trust plays a central …

Central bank digital currency (CBDC), as a digital form of central bank money, may allow for
a “digital trail”—data—to be collected and stored. In contrast to cash, CBDC could be …

The rapid advent of digital money (DM) and assets raises questions about its implications for
the functioning of the international monetary system (IMS). The low transaction costs of …

This working paper inaugurates the" Technology Fundamentals for Digital Finance" series,
concentrating on the technical aspects of financial Digital Assets. The series aims to facilitate …

Cross-border transactions face serious inadequacies, such as high costs, low speed, limited
access, and insufficient transparency. Network effectsa caused by entrenched legacy …