The International Monetary Fund (IMF) is working on a concept of a global infrastructure to ensure the interoperability of settlements between digital currencies issued by central banks.
A New Class Of Cross-Border Payment Systems
The International Monetary Fund Director stated at a conference in Morocco that the IMF was working on a principle of interoperability. According to her, the concept involves a “shared infrastructure.” This would help avoid the emergence of settlement blocks, which is the last thing that anyone wants as they look to avoid further economic fragmentation. The International Monetary Fund presented the outline of the new cross-border payment system, which it states uses a single ledger to register and record central bank digital currency (CBDC) transactions, programmability, and improved information management.
The new platform concept was unveiled on the 19th of June at a roundtable on CBDC policy held in Morocco. The event was held in partnership with t
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