BIS central bankers’ speeches  3  should have been apparent from the extent to which long-term cross-national investments were funded by short-term liabilities. To the extent that this was the case, hidden liabilities developed even in countries in which official fiscal statistics appeared reassuring.
It should be available in a broad range of market segments to achieve sufficient network effects. This should include digital payments in physical stores - which is the biggest segment accounting for 40 billion transactions in 2019 - but also E-commerce and peerto-peer payments.