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CBDC can save banks 100 billion US dollars in cost

November 3, 2021
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According to news on November 3, consulting firm Oliver Wyman and JPMorgan Chase released a report entitled “Release 120 billion U.S. dollars in payment value” on Wednesday.

The Central Bank Digital Currency (CBDC) can save more than $100 billion in transaction costs every year. The report estimates that in nearly $24 trillion of cross-border wholesale payments each year, banks incur a total transaction cost of more than $120 billion; this does not include the potential hidden costs of trapped liquidity and delayed settlement.

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