The United Kingdom has announced forthcoming regulatory proposals for stablecoins and ongoing research into CBDC.
The new card will support crypto payments using Paycoin at over 30 million UnionPay merchants.
The country is relatively new to crypto adoption, but is building momentum quickly.
This makes The Bahamas one of the first countries in the world to officially launch a CBDC beyond a pilot program.
The U.S. already has a “safe and active dynamic domestic payment system,” Powell argued.
A digital euro would not replace cash, but complement it, says the European Central Bank.