The Digitization of Money

The Digitization of Money

Global central banks are developing a framework for issuing digital currencies to the public.

March 2022

This urgency is partly driven by the astronomic growth of digital currencies that led to the creation of private payment models in the form of stablecoins.

Ramu Thiagarajan, senior investment advisor at State Street, and Swen Werner, head of Digital Custody and Payments for State Street Digital®, explore the risks and opportunities presented by general purpose (retail) CBDC, and highlight the challenges in creating a comprehensive, balanced and efficient system to help reap the various benefits of the digitization of money.


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