Western Union & $75 billion bank join forces on US CBDC study

Payments giant Western Union is collaborating with a $75 billion bank to study the effects of a US central bank digital currency (CBDC).

  • “The pilot study, executed in concert with a leading, technology-driven global payments player, evaluated the potential benefits of utilizing CBDCs for cross-border remittances.”

However, earlier this year, a survey revealed that the overwhelming majority of American citizens oppose a CBDC as it would give the federal government oversight on their spending habits.

  • The poll found that 74% of respondents would oppose a CBDC if it means that the government could control how they spend their money while 68% said they’d oppose it if it meant that the government could track how they spend their money.

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