Cross-Border Payments with a Retail CBDC

The latest Bank for International Settlements report shows research into wholesale CBDC overtaking that of retail CBDCs. Although the BIS does not speculate why this is so, the benefits of a wholesale CBDC are easier to articulate and feel more straightforward to achieve than those for a retail CBDC. It is interesting, therefore, that the latest International Monetary Fund paper considers design and policy considerations for cross-border payments with retail CBDCs .