Chile puts CBDC plans on hold until end of 2022 to undertake more analysis

Chile puts CBDC plans on hold until end of 2022 to undertake more analysis


The Central Bank of Chile has delayed its plans for a central bank digital currency (CBDC) saying the issuance of a digital Chilean peso requires a deeper analysis of the benefits and risks, promising a new report towards the end of the year.

A report from the bank published on May 11 included a preliminary evaluation of a Chilean CBDC and explored the country’s current payment system along with the benefits, risks, and principles of issuing a digital peso.

The bank stated whilst the current payment system “works adequately” and has been able to “adapt well to recent challenges”, a CBDC would enhance and mitigate any risks of digital transformation, adding:

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“A CBDC would contribute to achieving a competitive, innovative and integrated payment system that is inclusive, resilient

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