AsiaPac central banks will prioritise stability as they create digital currencies

The People's Bank of China is one of the few central banks that has already carried out a trial of a CBDC for general purpose use by the public. Monetary authorities are also looking into technology to conduct wholesale financial transactions, via CBDCs.

KUALA LUMPUR: Asia-Pacific monetary authorities will likely continue to partner with commercial banks if, and when, they roll out central bank digital currencies (CBDCs), S&P Global Ratings said on Tuesday.

In its report on Tuesday, credit analyst Gavin Gunning said "central banks will likely lean toward a model where banks and other financial intermediaries continue to play a strong intermediation role, rather than one where central banks alone manage their digital currencies".