BAKU, Azerbaijan, August 7. Visa is ready to share its expertise in the field of digital currencies with the Central Bank of Azerbaijan (CBA), Vice President and Regional Manager of Visa in Central Asia and Azerbaijan Crisitna Doros told Trend in an interview.
Visa and the CBA, she claims, are engaging in an open and constructive debate to develop appropriate formats of contact and cooperation.
She mentioned that several countries' governments and central banks are working on developing a national digital currency. They are working together to discover and build a suitable infrastructure for digital money, as well as to comprehend the directions of their application.
"Now, central banks from various countries are working to answer critical questions, such as what the solution's infrastructure and architecture should be, and how it will be used." How will the issuer engage with commercial banks as the CBA? "As Visa, we are eager to share our experience and are open to dialogue," she continued.
The CBA, in cooperation with international think tanks, financial organizations, and banks, is working on the development of a national digital currency. The bank is actively monitoring the role of digital currency in monetary policy and transmission.
In the field of digital currency development, the CBA is working with the International Monetary Fund. Step-by-step work is underway to form the concept of this currency, as well as research to assess possible risks.