A recent report by the Eurasian Development Bank emphasizes that the move towards technical compatibility of national digital currencies within the Eurasian Economic Union countries will help reduce dependence on international payment infrastructure. The report titled "Economic Cooperation in Eurasia: Practical Solutions" points out that cross-border payments in digital currencies could be faster, cheaper, and more secure than traditional correspondent banking systems, offering an alternative to SWIFT.
The adoption of Central Bank Digital Currency (CBDC) systems is expected to decrease reliance on international payment infrastructure and expand opportunities for further trade development. The Eurasian Development Bank suggests that EAEU countries should collectively and harmoniously advance digital currencies to leverage these benefits. This strategic approach aims to enhance economic cooperation within the region and strengthen financial stability while fostering innovation in the digital payment landscape.
