In a stride towards advancing digital currency landscapes, Visa has expressed its willingness to share its specialized knowledge with the Central Bank of Azerbaijan (CBA). In an interview, Cristina Doros, Vice President and Regional Manager of Visa for Central Asia and Azerbaijan, highlighted the ongoing positive discourse between Visa and the CBA to cultivate effective avenues of interaction and cooperation.
The momentum toward national digital currencies has seen governments and central banks worldwide collaborating to design robust frameworks for digital monetary systems. Doros emphasized that these institutions are grappling with fundamental questions concerning the structural blueprint and functional utility of these solutions.
As part of its commitment, Visa intends to offer its insights and promote constructive dialogues, particularly concerning the engagement between the issuer and commercial banks within the CBA’s operations.
Collaboratively, the CBA is steering its digital currency efforts with the assistance of global think tanks, financial entities, and banks. The development process involves close coordination with the International Monetary Fund and encompasses a comprehensive approach, including risk assessment, to shape the contours of this emerging digital currency paradigm.
