Members of the South East Asian Central Banks (Seacen) alliance are developing central bank digital currencies (CBDCs) in tandem, with almost immediate updates.

In a speech on February 15, deputy governor of the Reserve Bank of India Michael Patra said members were “actively co-ordinating their efforts to develop CBDCs, with near-real-time exchanges of information on progress”. 

Seacen’s members are at various stages of developing their CBDCs. However, Patra said: “The central tendency seems to be