The issue with stablecoins and CBDCs in emerging markets and developing countries
ambcrypto.comPeople from emerging economies have been opting for crypto, to hedge against the traditional markets. However, many countries have not been supportive of private cryptos and are instead looking at stablecoins or central bank digital currencies [CBDCs].
Nevertheless, a recent report stated that stablecoins and CBDCs could create daunting issues in the emerging markets and may not address problems that fintech innovations are trying to address. The Bank for International Settlements [BIS] released a paper titled What Does Digital Money Mean for Emerging Market and Developing Countries, on Friday that noted,
“Stablecoin arrangements aspire to improve financial inclusion and cross-border remittances – but they are neither necessary nor sufficient
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