The Impact of Central Bank Digital Currency Participation in Cross-Border Payments on International Monetary Competition
This paper examines the far-reaching impact of central bank digital currency (CBDC) applications for cross-border payments on the international monetary competition landscape. Against the backdrop of globalization and digitalization, CBDC has emerged as a catalyst for financial innovation, with cros...
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| Format: | Article |
| Language: | English |
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EDP Sciences
2025-01-01
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| Series: | SHS Web of Conferences |
| Online Access: | https://www.shs-conferences.org/articles/shsconf/pdf/2025/09/shsconf_icdde2025_03002.pdf |
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| author | Zhong Ling |
| author_facet | Zhong Ling |
| author_sort | Zhong Ling |
| collection | DOAJ |
| description | This paper examines the far-reaching impact of central bank digital currency (CBDC) applications for cross-border payments on the international monetary competition landscape. Against the backdrop of globalization and digitalization, CBDC has emerged as a catalyst for financial innovation, with cross-border payments being its pivotal use case. As a form of legal tender with multifunctional capabilities, CBDC enables efficient cross-border transactions through unique technological pathways. In the current diversified land*scape of international currency competition, CBDC-based cross-border payments could disrupt the U.S. dollar’s dominance. By intensifying global currency rivalry and broadening its scope, these innovations may empower emerging economies to elevate their currencies’ international standing. Using China as a case study, this paper proposes strategic recommendations, emphasizing technological advancement, international regulatory coordination, and proactive engagement in global rule making. The findings offer critical insights into the evolution of the global monetary system. |
| format | Article |
| id | doaj-art-3758a9b3228a46cba2c8707c362221b1 |
| institution | Kabale University |
| issn | 2261-2424 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | SHS Web of Conferences |
| spelling | doaj-art-3758a9b3228a46cba2c8707c362221b12025-08-20T03:29:39ZengEDP SciencesSHS Web of Conferences2261-24242025-01-012180300210.1051/shsconf/202521803002shsconf_icdde2025_03002The Impact of Central Bank Digital Currency Participation in Cross-Border Payments on International Monetary CompetitionZhong Ling0Business School, Ningbo UniversityThis paper examines the far-reaching impact of central bank digital currency (CBDC) applications for cross-border payments on the international monetary competition landscape. Against the backdrop of globalization and digitalization, CBDC has emerged as a catalyst for financial innovation, with cross-border payments being its pivotal use case. As a form of legal tender with multifunctional capabilities, CBDC enables efficient cross-border transactions through unique technological pathways. In the current diversified land*scape of international currency competition, CBDC-based cross-border payments could disrupt the U.S. dollar’s dominance. By intensifying global currency rivalry and broadening its scope, these innovations may empower emerging economies to elevate their currencies’ international standing. Using China as a case study, this paper proposes strategic recommendations, emphasizing technological advancement, international regulatory coordination, and proactive engagement in global rule making. The findings offer critical insights into the evolution of the global monetary system.https://www.shs-conferences.org/articles/shsconf/pdf/2025/09/shsconf_icdde2025_03002.pdf |
| spellingShingle | Zhong Ling The Impact of Central Bank Digital Currency Participation in Cross-Border Payments on International Monetary Competition SHS Web of Conferences |
| title | The Impact of Central Bank Digital Currency Participation in Cross-Border Payments on International Monetary Competition |
| title_full | The Impact of Central Bank Digital Currency Participation in Cross-Border Payments on International Monetary Competition |
| title_fullStr | The Impact of Central Bank Digital Currency Participation in Cross-Border Payments on International Monetary Competition |
| title_full_unstemmed | The Impact of Central Bank Digital Currency Participation in Cross-Border Payments on International Monetary Competition |
| title_short | The Impact of Central Bank Digital Currency Participation in Cross-Border Payments on International Monetary Competition |
| title_sort | impact of central bank digital currency participation in cross border payments on international monetary competition |
| url | https://www.shs-conferences.org/articles/shsconf/pdf/2025/09/shsconf_icdde2025_03002.pdf |
| work_keys_str_mv | AT zhongling theimpactofcentralbankdigitalcurrencyparticipationincrossborderpaymentsoninternationalmonetarycompetition AT zhongling impactofcentralbankdigitalcurrencyparticipationincrossborderpaymentsoninternationalmonetarycompetition |