Book Title: Shaping the Future: Innovation, Sustainability, and Inclusive Growth in a Globalized Economy
Editors: Editors: Dr. Shanu Singh, and Dr. Yashmita Awasthi
Student Editor: Krishna Singh Rawat
ISBN: 978-93-7183-006-5
Chapter: 15
DOI: https://doi.org/10.59646/725/15
Authors: Raghav Gupta, and Nelsan Pun
Abstract
The current global financial system is experiencing fundamental transformation, with rapidly evolving digital technologies and new forms of money driving this change. Notably, stablecoins and CBDCs are the leading alternatives/complementaries in the digital currency space. While private issued, fiat-backed stablecoins are an integral part of De-Fi, cross border payments and digital trading, CBDCs (i.e. Central bank digital currencies) have been explored and implemented by central banks globally to modernize payment systems, improve financial inclusion and retain monetary sovereignty.