New IMF series, Fintech Notes: The Rise of Digital Money
The new IMF series "Fintech Notes" examines pressing topics in the digital economy.
The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar.