The Implications of CBDCs on Cross-Border Payments

A lot of countries are adopting CBDCs, and how do we see this panning out? I think almost 60 central banks are experimenting with CBDC in different forms. It gives an additional option for settlement, one that is not dependent on kind of going back and looking at the cash users because that currency itself is backed by the central bank. China has set a target that by 2023, which is next year, they want to have a wide adoption of their e-currency.