Taiwan’s Central Bank is progressing in its studies on the potential implementation of a wholesale Central Bank Digital Currency (CBDC). The bank has not only successfully completed its first phase of the project but is also taking steps towards the second phase. The aim is to understand the feasibility and potential benefits of CBDCs in improving the efficiency of Taiwan’s financial services. The second phase will include more comprehensive system operations, simulation tests, and security checks. The bank’s exploration underscores the growing global interest in digital currencies and their potential role in modern finance.
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