The Digital Currency Monetary Authority (DCMA) made an exciting announcement during the International Monetary Fund (IMF) Spring Meetings 2023: the launch of the Universal Monetary Unit (UMU), a global legal tender settlement CBDC that is symbolized by the ANSI Character Ü and affectionately known as Unicoin.
This groundbreaking currency transacts in any legal tender settlement currency and functions like a CBDC, enforcing banking regulations and safeguarding the financial integrity of the international banking system. It adopts a central banking monetary policy framework to ensure continuous purchasing demand, minimal price volatility, and annual asset pricing targets.
But that’s not all: banks can utilize Unicoin by attaching SWIFT Codes and bank accounts to a UMU digital currency wallet. This allows them to conduct SWIFT-like cross-border payments entirely over digital currency rails, accessing the best-priced wholesale FX rates and achieving instantaneous, real-time settlement while bypassing the correspondent banking system.
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Source: https://www.linkedin.com/pulse/unicoin-revolutionary-new-legal-tender
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