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[Delio] The Central Bank of Colombia to Launch Nation’s Cryptocurrency

The Bank of Colombia recently disclosed plans for the creation of a digital currency, crypto media channel Bitcoin.com reported on August 21.

Making the many digital wallets that are accessible in the country compatible, according to Villar, a Governor of the Colombian Central Bank, is one of the currency’s main goals.

The organization is considering the introduction of the country’s cryptocurrency as a way to standardize the many digital wallets now used in the nation, making them more user-friendly and interoperable.

Meanwhile, a discussion paper on the benefits, drawbacks, and economics of deploying central bank digital money was released last Sunday by the European Central Bank (CBDC) which proposed that CBDCs could help stave off dominance from BigTech firms in the payments market due to “network externalities” surrounding the use of a medium of exchange.

Source: BITCOIN.COM

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Delio

Delio Digital Asset Finance Group, established in 2018, is №1 fintech company based in Seoul and acquired digital asset licenses from Korean and US governments.