The ECB noted that CBDCs provide a more credible alternative compared to unbacked digital assets.
Research published by the European Central Bank (ECB) has concluded that Bitcoin is the least credible alternative for cross-border payments.
Consequently, it considered several methods, including correspondent banking, fintech in multiple countries, crypto assets, stablecoins, interlinked instant payment systems, and CBDCs.
Volatile Bitcoin Unsuitable for Cross-border PaymentsIn its paper, the ECB considered Bitcoin (BTC), Ethereum, and other unbacked assets similarly.
CBDCs Are Better AlternativesCompared to unbacked digital assets, the ECB noted that CBDCs provide a credible alternative.
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