{"headers":{"Content-Type":"application\/x-www-form-urlencoded"},"body":"source_lang=&target_lang=PT-PT&tag_handling=xml&split_sentences=1&preserve_formatting=1&text=HSBC%3A+CBDCs+are+critical+for+financial+growth&text=According+to+the+CEO+of+the+HBSC+Group%2C+there+is+a+need+to+test+and+implement+central+bank+digital+currencies+%28CBDCs%29.&text=HSBC+might+not+be+a+bank+advocating+cryptocurrency%2C+but+the+CEO+has+outlined+a+pledge+to+promote+central+bank+digital+currency+%28CBDC%29+development.+As+one+of+the+largest+European+banks+with+assets+of+more+than+%243+trillion+USD+in+its+holdings%2C+the+bank+is+influential+in+the+space+and+the+opinion+of+the+CEO+could+sway+others+sitting+on+the+fence.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%3Ch2%3EHSBC+CEO+fuelling+CBDC+development+in+the+banking+industry%3C%2Fh2%3E%0ANoel+Quinn%2C+the+CEO+of+the+HSBC+Group%2C+wrote+an+article+addressing+how+digital+money+can+traject+financial+growth+and+rally+financial+innovation.+In+the+letter%2C+%3Ca+href%3D%22https%3A%2F%2Fwww.hsbc.com%2Finsight%2Ftopics%2Fnew-forms-of-digital-money-could-spur-growth%22%3Ehe+wrote%3C%2Fa%3E+that+the+banking+firm+is+committed+to+supporting+and+developing+CBDCs+as+a+complement+to+cash+and+currency.+Noting+that+digital+banking+currencies+will+be+able+to+offer+transparency+in+finance+as+part+of+legal+tender+will+help+mitigate+risks+and+reduce+the+possible+dangers+and+volatility+commonly+associated+with+cryptocurrencies.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0AMoreover%2C+the+firm%27s+CEO+beleives+that+CBDCs+can+help+further+the+economy+with+more+effective%2C+quicker+and+more+affordable+payment+options+in+place+to+stimulate+economic+movement.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0AAs+per+Quinn%27s+note%3A%0A%3Cblockquote%3E%22%3Cem%3ECBDCs+could+help+to+spur+further+economic+growth+by+making+payments+and+settlements+more+efficient+and+cheaper.+They+could+also+fuel+innovation+across+the+financial+sector.+The+near+instant+nature+of+CBDC+payments+is+likely+to+lower+the+cost+of+issuing+and+trading+bonds+and+other+securities+%E2%80%93+and+may+also+help+with+fiscal+and+monetary+policy+objectives+by+providing+a+means+of+making+direct+transfers+to+consumers+to+stimulate+demand.%22%3C%2Fem%3E%3C%2Fblockquote%3E%0A%3Ch2%3EThe+need+for+safety+in+the+adoption+of+innovative+tech+in+finance%3C%2Fh2%3E%0AAccording+to+Quinn%2C+digital+currencies+will+need+to+be+regulated+extensively+to+mitigate+risks+as+the+industry+continues+to+grow+across+the+globe.+As+a+result%2C+any+new+products+and+services+developed+will+need+to+be+%22%3Cem%3Esafe%2C+efficient+and+genuinely+transformative.%3C%2Fem%3E%22+Before+adopting+the+digital+currency+fully%2C+the+concept+needs+to+be+tested+and+piloted+to+make+sure+it+does+not+have+a+negative+impact+on+the+credit+supply+and+market+activity+or+risk+upsetting+a+country%27s+financial+stability.+%3Cstrong%3EBold%3C%2Fstrong%3E%0A%0ATo+ensure+the+risks+and+reduced+and+the+advantages+are+enhanced%2C+Quinn+pointed+out+that+the+model+of+adoption+will+lean+towards+a+hybrid+one.+This+means+that+it+will+be+looking+to+implement+both+a+central+bank+digital+currency+and+maintain+operations+with+traditional+currencies.+According+to+the+firm%27s+CEO+this+will+help+avoid+an+entire+restructure+of+management+infrastructure+while+making+sure+innovative+design+in+finance+can+play+a+vital+role%3A%0A%3Cblockquote%3E%3Cem%3E%22CBDCs+should+do+no+harm+to+monetary+and+financial+stability%3B+must+be+able+to+co-exist+with+cash+and+other+money+in+a+flexible+and+innovative+payments+ecosystem%3B+and+should+promote+broader+innovation+and+efficiency+in+the+financial+system...+If+CBDCs+can+meet+the+high+standards+of+safety+and+efficiency+that+banks+always+look+for+from+new+products+and+services%2C+then+they+can+bring+about+positive+change+for+the+financial+sector+and+the+real+economy.%22%3C%2Fem%3E%3C%2Fblockquote%3E%0A%3Ch2%3ECBDCs+and+global+interest%3C%2Fh2%3E%0AHBSC+is+not+the+only+firm+or+banking+leader+to+start+to+consider+the+role+CBDCs+can+play.+%3Ca+href%3D%22https%3A%2F%2Fwww.coininsider.com%2Fcbdcs-are-increasing-in-testing-according-to-new-tracker%2F%22%3EAs+reported%3C%2Fa%3E%2C+there+has+been+a+leap+in+the+interest+of+CBDCs+with+more+countries+testing+the+concept.+According+to+Google+Trends%2C+there+has+been+a+volatile+global+interest+in+CBDC%C2%A0+as+a+search+term%3A%0A%3Cdiv+class%3D%22article-subscription-widget%22%3E%0A%3Cdiv+class%3D%22article-subscription-widget__form%22%3E%3Cscript+type%3D%22text%2Fjavascript%22+src%3D%22https%3A%2F%2Fssl.gstatic.com%2Ftrends_nrtr%2F2674_RC03%2Fembed_loader.js%22%3E%3C%2Fscript%3E+%3Cscript+type%3D%22text%2Fjavascript%22%3E+trends.embed.renderExploreWidget%28%22TIMESERIES%22%2C+%7B%22comparisonItem%22%3A%5B%7B%22keyword%22%3A%22cbdc%22%2C%22geo%22%3A%22%22%2C%22time%22%3A%222021-06-22+2021-09-22%22%7D%5D%2C%22category%22%3A0%2C%22property%22%3A%22%22%7D%2C+%7B%22exploreQuery%22%3A%22date%3Dtoday%25203-m%26%23038%3Bq%3Dcbdc%22%2C%22guestPath%22%3A%22https%3A%2F%2Ftrends.googl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