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Taiwan central bank advances study on central bank digital currency

Taiwan's Central Bank has finished a study on the feasibility and technology of a central bank digital currency (CBDC) and is fine-tuning its platform, Deputy Governor Chu Mei-lie revealed. Speaking at a Financial Information Service Co event, Chu emphasised a CBDCs' role in facilitating transactions, smart contracts, and automatic settlements. She proposed integrating CBDCs with traditional currencies using a unified ledger to enhance interoperability and reduce risks. While other central banks explore CBDC issuance, Taiwan's Central Bank is advancing cautiously, with no definitive timeline. Discussions with academics and business sectors are underway to improve the platform's design and capabilities, including offline transactions. This move represents Taiwan's effort to modernise its monetary system in line with global digital currency trends.


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