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https://doi.org/10.36719/2706-6185/45/186-190

Toghrul Mustafayev

Friedrikh Shiller University Yena

https://orcid.org/0009-0001-8380-2310

togrulmustafayev8@gmail.com

 

CBDC’S Impact on Modern Payment Systems and the Adaptation

of the Banking Sector

 

Abstract

Central Bank Digital Currencies (CBDCs) represent a crucial innovation in modern financial systems, with the potential to reshape the structure of commercial banking. This paper examines the impact of CBDCs on contemporary payment systems and explores how the banking sector is adapting to this emerging financial technology. The implementation of CBDCs could alter the role of commercial banks in credit and deposit markets, as these digital currencies influence the traditional financial intermediation process. The main advantages of CBDCs include enhancing cross-border transactions, reducing transaction costs, and optimizing liquidity management within financial markets. However, large-scale adoption of CBDCs necessitates updates in regulatory frameworks and accelerates the technological transformation of the banking industry. The findings of this study indicate that commercial banks must develop new business models and innovative approaches to remain competitive in the digital currency landscape

Keywords: CBDC, payment systems, commercial banks, digital currencies



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