ABU DHABI, United Arab Emirates—After five years of development, reports indicate China in a matter of months could launch a digital yuan. But bankers and financial industry professionals surveyed at an industry conference still believe the United States will be the first to create a global digital currency.
Attendees at the ACAMS anti-money laundering (AML) and financial crime conference were asked by blockchain intelligence firm Chainalysis which country they believe will be the first to launch a stablecoin-like digital currency intended to be used beyond one country’s borders.
The top answer was the U.S., with more than 37% saying it was most likely to launch the first worldwide digital currency in the next five to 10 years, Modern Consensus reported.
This “makes sense considering that the U.S. dollar is the world reserve currency,” Chainalysis noted.
Nearly 30% said the world’s first virtual currency would not be launched by a government at all. Instead, they said a decentralized currency was most likely to be first out of the gate.