It’s a great honour for the Deutsche Bundesbank and a great pleasure for me to welcome you to our symposium, and to see that so many distinguished representatives from academia, central banks, the financial sector, politics, and unions, have accepted our invitation.
By providing access to a digital form of safe central bank money, a CBDC could provide an important foundation on which private-sector competition could flourish. Reduce cross-border frictions Cross-border payments, such as remittances, represent one of the most compelling use cases for digital currencies. The intermediation chains for cross-border payments are notoriously long, complex, costly, and opaque.