JPMorgan has estimated that central bank digital currencies could help corporates save £100bn in transaction costs.
In Brief:
The estimate is in reference to a “full-scale multiple central bank digital currency (mCBDC)”.
A report from JPMorgan and Oliver Wyman says that of nearly $24trn wholesale payments that moves across borders through correspondent banking last year, global corporates incur over $120bn in transaction costs.
It says CBDCs can address many pain points across cross-border payments.
