Central Bank Digital Currencies Not a ‘Fad,’ MetLife Investment Says
The investment giant predicts CBDCs will continue gaining steam, although Western central banks have more outstanding questions than answers.
Central Bank Digital Currencies Not a ‘Fad,’ MetLife Investment Says
Institutional investor MetLife Investment Management (MIM) has released a new macro strategy primer outlining the forthcoming role of blockchain-based assets, particularly central bank digital currencies (CBDC).
- MIM, founded in 1868, states that CBDCs are a logical progression of money and technology that are “unlikely [to] be a passing fad,” according to the primer released Jan. 8.
- The investments giant also notes that a “true CBDC launch among Western countries seems unlikely to occur anytime soon” as key technical questions have yet to be addressed.
- “However, just as the dreams of cryptocurrency developers tend to be rather lofty, so are those of various CBDC initiatives,” the document states.
- MIM had some $651 billion in assets under management (AUM), as of September 2020.
