Today Oliver Wyman and JP Morgan published a joint report exploring how a multiple central bank digital currency (M-CBDC) network could save corporates money. They estimate that corporate wholesale payments amount to $24 trillion a year and cost $120 billion, which could fall by $100 billion using an M-CBDC network.
“Central banks around the world who are at various stages of CBDC development are considering how to build an infrastructure where systems operate and work together with the necessary controls in place,” said Naveen Mallela, Global Head of Coin Systems, Onyx by J.P. Morgan.
“In this report, we put forward robust design considerations for a successful mCBDC network and demonstrate how it can be practically implemented, using ASEAN corridors as an example.”
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