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Peru to partner with India, HK and Singapore central banks on a CBDC
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The president of the Central Reserve Bank of Peru Julio Velarde announced that his country will be entering the global race to develop a Central Bank Digital Currency (CBDC).
At the Annual Conference of Executives (CADE) with business leaders in Lima on Nov. 16 he said:
Velarde stated that Peru will partner with the central banks of countries more advanced in their development of CBDCs including India, Singapore, and Hong Kong. A CBDC is a digital form of a country’s fiat currency, issued and controlled by the respective nation’s central bank.
"We won’t be the first, because we don't have the resources to be first and face those risks," Velarde said, "But we don't want to fall behind. We are at least at the same level or maybe even further
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