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IMF: Central Bank Digital Currencies could Replace Cash

Central bank digital currencies (CBDCs) have the potential to replace cash, but adoption may take time, said Kristalina Georgieva, managing director of the International Monetary Fund. “CBDCs can replace money that is expensive to circulate in island economies,” she said Wednesday at the Singapore FinTech Festival event, CNBC reported. “They can offer resilience in more advanced economies….