STELLAR FOR CBDCs

In an oft-cited statistic, a growing number of central banks around the world are exploring the possibility of central bank digital currencies (“CBDCs”).1 And the COVID pandemic has only accelerated the situation, with lawmakers and regulators even more willing to consider new technologies that could improve the lives of their citizens. Whether focused on increased competition in financial services2, greater ease of distributing social benefit payments3, or bringing safety and security to the unbanked4, central banks are imagining the promise and possibility of CBDCs.