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arXiv · 2401.09811

A Framework for Digital Currencies for Financial Inclusion in Latin America and the Caribbean

Gabriel Bizama·Alexander Wu·Bernardo Paniagua·Max Mitre
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Abstract

This research aims to provide a framework to assess the contribution of digital currencies to promote financial inclusion, based on a diagnosis of the landscape of financial inclusion and domestic and cross-border payments in Latin America and the Caribbean. It also provides insights from central banks in the region on key aspects regarding a possible implementation of central bank digital currencies. Findings show that although digital currencies development is at an early stage, a well-designed system could reduce the cost of domestic and cross-border payments, improve the settlement of transactions to achieve real-time payments, expand the accessibility of central bank money, incorporate programmable payments and achieve system performance demands.

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Gabriel Bizama, Alexander Wu, Bernardo Paniagua, Max Mitre. 2024-01-18. A Framework for Digital Currencies for Financial Inclusion in Latin America and the Caribbean. https://arxiv.org/abs/2401.09811

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