Inclusive economic development principles for integrating central bank digital currencies in G20 countries

Central Bank Digital Currencies (CBDC) are rapidly gaining ground, with all Group of 20 (G20) nations researching or adopting such technologies. This policy brief identifies how the G20 can play a central role in driving an integrated multiple CBDC (mCBDC) model built upon a wholesale CBDC architecture, with a G20-managed common bridging platform. The brief describes how domestic policies on governance and exchange rules can be unbundled in the mCBDC design. The brief further describes how these technologies can unleash global trade and outlines a series of domestic principles that promote inclusive economic development. In addition, for commodities and bulk trade scenarios, wholesale CBDC solutions can leverage two-tier CBDC architecture to bring efficiency, compliance and other benefits to settlement and trade finance among businesses.