retail cbdc will be launched in taiwan this year

Taiwan is moving forward with introducing retail central bank digital currency (cbdc). this fall, the island nation expects to finish testing its prototype cbdc. thanks to a new two-tiered design, consumers can exchange their bank deposits for digital currency. the cbdc will be a form of legal tender and be interconnected with credit and debit cards.

taiwan has stated that it is more closely aligned with the u.s., europe, japan, and south korea. They prefer cbdc because of its advantages over other epayments.

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