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Colombia Faces Uphill Battle in CBDC Adoption Amid Cash-Dominant Economy
Colombia Faces Uphill Battle in CBDC Adoption Amid Cash-Dominant Economy
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Colombia’s central bank digital currency (CBDC) initiative confronts significant hurdles as the nation grapples with a deeply entrenched cash economy. The Latam Insights report highlights the paradoxical challenge of modernizing financial infrastructure in a market where physical currency remains predominant.
Unlike neighboring countries experimenting with cryptocurrency integration, Colombia’s CBDC rollout faces unique adoption barriers. The report suggests the digital peso may struggle to gain traction without addressing fundamental issues of financial inclusion and technological accessibility.
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