Taiwanese Central Bank to Cautiously Test CBDC Implementation

Taiwanese Central Bank Governor Yang Chin-long emphasized that developing a central bank digital currency (CBDC) is not a race. And being the first to launch doesn’t guarantee success. 

The Central Bank of the Republic of China (Taiwan) plans to conduct three scenario tests for the digital New Taiwan Dollar. While there’s no set schedule for issuing a CBDC. The bank continues to enhance payment system efficiency and explore innovative applications. Yang highlighted that promoting CBDC is a long-term project aimed at supporting the country’s digital economy and financial growth.

Clever Robot News Desk 9^th July 2024