The Central Bank of Chile (BCCH) said it will step up its research into a central bank digital currency (CBDC) in its first report on the subject.

The BCCH says it can see fewer problems in a wholesale than in a retail CBDC. But it may not end up issuing either, it says in the report, published on May 11.

The central bank “considers that the current payment system works adequately, and that it has been able to adapt well to recent challenges”. The report says the existing infrastructure has