Will emerging markets win in the race to produce a digital currency?

China has introduced digital currency to the Winter Olympics

Kathleen Gallagher
clock • 5 min read
Athletes at this year’s Winter Olympics have been able to use China’s digital yuan
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Athletes at this year’s Winter Olympics have been able to use China’s digital yuan

World class athletes, their coaches and lucky spectators of the Winter Olympics have had the option to use China’s digital yuan over the past couple weeks as the nation pioneers its central bank digital currency.

Meanwhile, India has also pinned its colours to the mast in the race for CBDCs, as it has announced it will launch a digital currency by 2022-2023 as a means to boost the country's economic growth. As the race to produce digital currencies heats up, experts agree they could play a significant and positive role for emerging market economies and will be an important consideration for all areas of asset management, but the jury is out if the US dollar's dominance in currency markets is under threat.   CBDCs are a digital token representing a country's official fiat currency. They are rel...

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