Many countries are researching, piloting or introducing central bank digital currencies. But questions persist about their security, stability and viability, and whether financial market infrastructures and fintechs are ready for them. The shift towards CBDCs in an increasingly digital era has a certain inevitability. However, widespread adoption will only be possible with corresponding innovation in payment and settlement capabilities. That need for innovation represents an opportunity to redesign infrastructure to support cross-border CBDC transactions. The current cross-border payments system involves ... (full story)