Is it time to ‘leapfrog’ into more efficient payments of digital currencies?
McKinsey highlights many variables, including the biggest issues in payments today – huge, unecessary costs and rent seeking business models.
Banks can’t continue to ignore the exponential growth and acceleration of the innovation coming to payments with digital assets – at a fraction of the cost, with superior resilience, security, consumer protection and customer experience.
We expect answers to many of the questions to become clearer over the coming months and years, as both stablecoins and CBDCs become more widely available and the payments industry confronts perhaps the biggest disruption in its history. While the use cases of CBDCs and stablecoins are still emerging, it is not too early to prepare for such disruption.
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