Singapore's fintech boss says stablecoins might win before CBDCs even get started

While central bank digital currencies (CBDCs) are often advanced as a way to improve the world's creaking cross-border payments infrastructure, some financial experts believe the government-issued tokens may be usurped by stablecoins and other products. "I have had a feeling that a well-regulated [stablecoin] can become a …

[Anonymous Coward]

The faster it goes through the harder it is to stop fraud and other criminal usage.

[MiguelC]

Nowadays every check is automated, so speed is available in traditional banking also. I can transfer money from EUR accounts in different countries in a matter of seconds, and all security checks are done on-the-fly (against fraud, terrorist funding, money laundering, etc.)

You would just need to guarantee that crypto currency transfers are compliant with regular banking safety measures.