Watch out for the new money, power and technology game. So, digital money is another global battleground for superiority. DeFi is moving so fast, as the latest trend of cruptocurrencies is both Stablecoin and central bank digital currencies (CBDC). Last month, Fed Board member Lael Brainard made an important speech on Private Money and CBDC, highlighting four developments: growing role of digital private money; migration to digital payments; use of foreign CBDCs in cross-border payments; and concerns about financial exclusion. Hence, digital money is here to stay and will eventually become a mainstream asset class.

Source: The Edge Markets June 23, 2021 03:33 UTC