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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