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Moody’s Talks – The Big Picture

Episode 5
January 18, 2022

Central bank digital currencies: the future of cash?

Central banks around the world are studying and in some cases moving ahead with the creation of digital currencies that have the same value as physical cash. How do central bank-backed digital currencies work and how do they differ from other types of electronic financial assets such as cryptocurrencies and stablecoins? Could central bank digital currencies improve access to the financial systemand strengthen financial stability? And what kind of disruption will they bring for banks and other segments of the financial system? 

Guests: Colin Ellis, Managing Director – Credit Strategy, Moody’s Investors Service; Farooq Khan, Vice President – Senior Analyst, Financial Institutions Group, Moody’s Investors Service.

Host: William Foster, Vice President – Senior Credit Officer, Sovereign Risk Group, Moody’s Investors Service. 

To read more on this topic, visit The Big Picture page on (some content only available to registered users or subscribers).