Interest in stablecoins and central bank digital currencies (CBDCs) continues as businesses, regulators and governments begin to appreciate the transformational opportunities these digital assets offer. While COVID-19 has led to a decline in the physical use of cash, governments around the world have been giving money to their citizens, possibly driving the largest injection of cash into the global economy. the history. For example, in the US, the 20% of all dollars ever created it was done in 2020. While the intent was to protect jobs and protect economies from the impact of shutdowns, the result was that many people received payments they may not have needed; we've certainly seen savings rates skyrocket.