By Tobias Adrian and Tommaso Mancini-Griffoli
A battle is raging for your wallet. New entrants want to occupy the space once used by paper bills or your debit card.
The adoption of new, digital payment methods could bring significant benefits to customers and society: improved efficiency, greater competition, broader financial inclusion, and more innovation. But it could invite risks to financial stability and integrity, monetary policy effectiveness, and competition standards, as outlined in a recent IMF staff paper, the first of a new series of Fintech Notes.
Adoption of new forms of money will depend on their attractiveness as a store of value and means of payment.
Adoption of new forms of money will depend on their attractiveness as a