But, we are also thinking of alternative solutions which could help to overcome existing pain points, reap the benefits of digitalisation and support new payment use cases without introducing CBDC – and without the possible undesirable implications related to it. One way could be to enhance conventional payment systems, both at the domestic and global level.
In this respect, we support the market in developing a pan-European payment solution with full deployment of the new instant payment infrastructure. In addition, we believe that the roadmap developed by the Financial Stability Board (FSB) provides an excellent plan to enhance cross-border payments.6 In this respect, it is also becoming clear that CBDC is not the panacea to a multi-faceted problem.