Central bank digital cash will complement cryptos: analysts

FILE PHOTO: A sign indicating digital yuan, also referred to as e-CNY, is pictured at a shopping mall in Shanghai, China May 5, 2021. REUTERS/Aly Song

(Reuters) - Central bank digital currencies will complement cryptocurrencies rather than competing with them despite not being structurally different from their country's fiat currencies, strategists and fund managers said.

Around 90% of the world's central banks are now working on their own digital currencies, some of which may be issued in the next three years, a January survey from the Bank for International Settlements showed.