IMF spearheads development of global digital currency platform.
The International Monetary Fund has proposed a new cross-border payment platform, called the XC platform, that uses a single ledger to record central bank digital currency (CBDC) transactions, programmability, and improved information management. The platform could operate domestically using tokenized assets, including deposits, with or without CBDCs. The XC platform would provide interoperability among assets and money tokenized by the private sector and "usefully instill standards and a safe environment with which to program financial contracts," as settlements would be carried out in central bank money.
