1As part of their remit of continuing to evolve money and payments, Central Banks around the world are beginning to explore, test and implement some form of Central Bank Digital Currency (CBDC). There are a number of reasons for the growing momentum behind offering sovereign-backed versions of private cryptocurrencies. The Rise of CBDCs Through the power of blockchain technology, financial institutions are enabling seamless, instant global payments. Each Central Bank will also have its own motivations for pursuing a digital currency that will be driven by specific market challenges and opportunities. The nature of that primary goal – whether it’s overcoming limitations of existing payments infrastructure, promoting financial inclusion, boosting competition or fostering

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