Digital Currency

CBDC in Vietnam

Vietnam has begun to develop its own Central Bank Digital Currency (CBDC), i.e. a digital version of its own currency. The Southeast Asian country is thus following the example of over 80 central banks around the world. Compared to other countries in the region, Hanoi got a comparatively late start, and so far, there has been little progress. However, China's progress in implementing the digital renminbi (eRMB) is creating greater pressure among policymakers in Vietnam. This policy paper analyzes developments to date and makes recommendations for the design of a Vietnamese CBDC.

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