Evercore dives into winners/losers of potential central bank digital currency

Recently in Notable Calls, CFRA weighed in on the effects of a more bullish bitcoin ([[BTC-USD]]) trade on payment processors - and along the way concluded that the impact was different depending on how the companies approached cryptocurrencies. For example, Square is affected by volume as it allows users to buy and sell bitcoin. Meanwhile, CFRA noted that PayPal isn't really purchasing bitcoin itself so much as positioning itself for partnership for if/when a central bank digital currency ((CBDC)) arrives. A new note from Evercore ISI takes on the prospects for CBDC, and looks at opportunities/risks for card networks, two-sided payment networks, merchant acquirers and card-issuing banks. CBDCs represent digital currency tied to respective central banks, and a digital dollar would be the U.S. version. The Digital Dollar Project is exploring a model for CBDC which would be "tokenized and distributed through a two-tiered architecture of commercial banks and regulated