Central Bank Digital Currencies Not a ‘Fad,’ MetLife Investment Says

Institutional investor, MetLife Investment Management (MIM) has released a new macro strategy primer outlining the forthcoming role of blockchain-based assets, particularly central bank digital currencies (CBDCs).

The investment giant predicts CBDCs will continue gaining steam, although a “launch among Western countries seems unlikely to occur anytime soon.”

MIM, founded in 1868, states that CBDCs are a logical progression of money and technology that are “unlikely [to] be a passing fad,” according to the primer released Jan. 8.

The investments giant also notes that a “true CBDC launch among Western countries seems unlikely to occur anytime soon” as key technical questions have yet to be addressed.

“However, just as the dreams of cryptocurrency developers tend to be rather lofty, so are those of various CBDC initiatives,” the document states.

MIM had some $651 billion in assets under management (AUM), as of September 2020.