Digital currencies and fintech

• Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment

  Staff Working Paper 2019-20 Jonathan Chiu, Mohammad Davoodalhosseini, Janet Hua Jiang, Yu Zhu

  We show that issuing a deposit-like central bank digital currency (CBDC) with a proper interest rate would encourage banks to pay higher interest to keep their customers. Banks would then attract more deposits and offer more loans. Hence, a CBDC would not necessarily crowd out private banking.

  Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Market structure and pricing, Monetary policy, Monetary policy framework JEL Code(s): E, E5, E50, E58
• May 2, 2019

  Central Banks of Canada and Singapore conduct successful experiment for cross-border payments using Distributed Ledger Technology

  This joint press release highlights the findings of the Jasper-Ubin experiment on cross-border, cross-currency payments using distributed ledger technology (DLT).

  Content Type(s): Press, Press releases Topic(s): Digital currencies and fintech