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Reuters

Central bank digital cash will complement cryptos: analysts

Central bank digital currencies will complement cryptocurrencies rather than competing with them despite not being structurally different from their country’s fiat currencies, strategists and fund managers said. Around 90% of the world’s central banks are now working on their own digital currencies, some of which may be issued in the next three years, a January survey from the Bank for International Settlements showed. Central bank digital currencies (CBDCs) “are structurally no different than fiat, and they are very much complementary to crypto, not competitive,” Meltem Demirors, chief strategy officer at CoinShares, Europe’s largest digital asset investment firm managing $5 billion.

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