| Issue |
SHS Web Conf.
Volume 218, 2025
2025 2nd International Conference on Development of Digital Economy (ICDDE 2025)
|
|
|---|---|---|
| Article Number | 03002 | |
| Number of page(s) | 7 | |
| Section | Digital Economic Governance: Policy and Sustainability | |
| DOI | https://doi.org/10.1051/shsconf/202521803002 | |
| Published online | 03 July 2025 | |
The Impact of Central Bank Digital Currency Participation in Cross-Border Payments on International Monetary Competition
Business School, Ningbo University, No.818, Fenghua Road, Jiangbei District, Ningbo, Zhejiang, 315211, China
* Corresponding author: 226001909@nbu.edu.cn
This paper examines the far-reaching impact of central bank digital currency (CBDC) applications for cross-border payments on the international monetary competition landscape. Against the backdrop of globalization and digitalization, CBDC has emerged as a catalyst for financial innovation, with cross-border payments being its pivotal use case. As a form of legal tender with multifunctional capabilities, CBDC enables efficient cross-border transactions through unique technological pathways. In the current diversified land*scape of international currency competition, CBDC-based cross-border payments could disrupt the U.S. dollar’s dominance. By intensifying global currency rivalry and broadening its scope, these innovations may empower emerging economies to elevate their currencies’ international standing. Using China as a case study, this paper proposes strategic recommendations, emphasizing technological advancement, international regulatory coordination, and proactive engagement in global rule making. The findings offer critical insights into the evolution of the global monetary system.
© The Authors, published by EDP Sciences, 2025
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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