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James Hurren explores what early CBDC deployments across Asia, the Caribbean, and Europe reveal about usage, adoption, and the future of cross-border digital money. Central bank digital currencies (CBDCs) have rapidly evolved from theoretical concepts into live pilots and national deployments.
For example, contactless acceptance and PIN Online have been supported in nexo protocols since the beginning, whereas some countries took over 10 years to roll them out. The initial protocols were refined, expanded, and formalized into a globally recognized suite of ISO20022-based standards. no mandatory cobadging).
The widespread shift to online reliance has created a greater demand for accessing various services online, including government public services and online retail payments. This increased digital dependency has raised the need for secure access and quick and easy identity verification online.
Some banks may not be able to connect to both. The panel will explore some of these initiatives including the New York Fed's CBDC pilot program with major banks, the recently concluded Boston Fed's Project Hamilton and other global CBDC projects. These projects are taking different implementation approaches.
Immediate focus areas include fraud prevention, ISO20022 readiness, and stablecoin regulationbut longer-term success depends on active engagement with consultations, operational resilience, and global alignment. Requirements apply to consumer banking services, which includes e-money and payment services. What’s next?
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