This means people can have better and wider financing options. Digital payments also underpin a whole range of innovative digital services requiring the instant transfer of funds between transactors. The use and popularity of apps like Airbnb, Grab and Lalamove are made possible because of digital payments.
There is also a clear alignment between the goals of price stability and financial stability, as the objective of monetary policy is more easily achieved under financial stability and the latter benefits from price stability. Nevertheless, existing instruments are unable to fully address persisting significant 1/3  BIS central bankers' speeches  macroeconomic imbalances, and they still persist.