The Central Bank of the Republic of China, Taiwan’s central bank, has completed technical research on a wholesale central bank digital currency (CBDC). This was announced by the bank’s vice president, Zhu Meili.
Vice Governor Zhu said in a speech on December 7 that the ROC central bank is currently focusing on conducting surveys to gather feedback from the public, government agencies, industry, and academia on improving the design of the CBDC platform. He said that
Following the approval from the Bank for International Settlements (BIS), competent authorities around the world are considering the benefits of CBDCs for interbank and retail payments.
With traditional financial institutions increasingly experimenting with real-world asset (RWA) digitization, Zhu said that CBDCs “could serve as the operational basis for tokenization.” However, it warned that these innovations could pose significant risks to financial stability, consumer protection, anti-money laundering and market integrity.
Vice Governor Zhu said, “Financial supervisory institutions should consider related regulatory measures according to the development trend of tokenization.”
｜Translation and editing: Rinan Hayashi
｜Image: Timo Volz/Unsplah
｜Original text: Taiwan Completes Wholesale CBDC Technical Study, Central Bank Official Says