report estimates that of the nearly $24 trillion in wholesale payments that moved across borders via the correspondent banking network each year, global corporates incur more than $120 billion in total transaction costs; this excludes potential hidden costs in trapped liquidity and delayed settlements.Jason Ekberg, partner, corporate and institutional banking at Oliver Wyman, states: “The case for CBDCs to address pain points in cross-border payments is very compelling.
The bulk of today’s
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