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Analysis on the Optimization Path for the Application of Central Bank Digital Currencies in Cross Border Payment

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DOI: 10.23977/ferm.2023.061108 | Downloads: 19 | Views: 317

Author(s)

Xiuping Zhai 1

Affiliation(s)

1 Business School, University of Aberdeen, Aberdeen, AB24 3FX, UK

Corresponding Author

Xiuping Zhai

ABSTRACT

In the era of great development and transformation in the digital economy, the Central Bank Digital Currency (CBDC) has received attention from various countries. Various countries have gradually increased their research and development efforts in CBDC, striving to explore more application directions of CBDC. Especially in the context of economic globalization, with the further increase in financial demand between different regions and countries, cross-border trade exchanges between countries have become increasingly close, and cross-border payments have become an important exploration direction for central bank digital currencies. Based on this, this paper first analyzes the advantages of CBDC application in cross-border payments, and provides a detailed analysis of the potential challenges of CBDC application in cross-border payments. Finally, the paper proposes practical and effective optimization paths for CBDC application in cross-border payments.

KEYWORDS

CBDC; cross border payment; optimized path

CITE THIS PAPER

Xiuping Zhai, Analysis on the Optimization Path for the Application of Central Bank Digital Currencies in Cross Border Payment. Financial Engineering and Risk Management (2023) Vol. 6: 55-59. DOI: http://dx.doi.org/10.23977/ferm.2023.061108.

REFERENCES

[1] Wang Ying. Exploring the Path of Central Bank Digital Currency Application in Cross border Payments [J]. Journal of Regional Financial Research, 2022 (7): 36-43.
[2] Yan Shengguo, Yang Yunsen, He Xuelei, et al. The Application of Central Bank Digital Currency in the Field of Cross border Payment and Clearing [J]. Hebei Finance, 2022 (4): 3-9.
[3] Wang Qing, Qian Xinzhou. Exploration of Optimizing the Global Cross border Payment System Based on Central Bank Digital Currency [J]. New Finance, 2023 (3): 35-42.

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