President of the Bank for International Settlements: CBDC is the key to financial system innovation

Agustín Carstens, President of the Bank for International Settlements (BIS), said that central bank digital currency (CBDC) is the key to innovation in the financial system, and the private sector will play an important role in bringing CBDC to the market. "Whether it's in wholesale form (as a digital central bank reserve) or retail form (as a digital banknote), it's becoming increasingly clear, at least to me," Carstens said on Wednesday at a CBDC conference in Basel, Switzerland. What is clear is that these new forms of money will be at the core of the future financial system.” (CoinDesk)