In a new staff discussion note, the IMF examines the fintech revolution, with a focus on the use of DLT in cross-border payments.
The note offers three areas in which distributed ledger technology can disrupt cross-border payments: back end processes, compliance, and means of payment. The IMF suggests that the tech has the potential to promote service improvements and cost savings, as wells as to disrupt barriers to entry. The regulatory approach needs to be global and to balance the efficiency gains with any stability trade-offs.
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