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Bank of America Says US CBDC Would Preserve Dollar’s Status as World’s Reserve Currency

Bank of America Says US CBDC Would Preserve Dollar’s Status as World’s Reserve Currency

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Stablecoins are prone to see a rise in utilization within the absence of CBDCs, the financial institution famous, including that the 2 largest by market worth, Tether and USD Coin, had a mixed market worth of round $121 billion as of Jan. 21. Their use as a method of cost is growing, significantly for cross-border remittances, the report mentioned, as they’re quicker and cheaper than utilizing fiat forex.

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