Cryptos are here to stay, even with CBDCs allure

enaira

The e-Naira currency logo seen on glowing screen of smartphone placed on token coins. PHOTO | SHUTTERSTOCK

Cryptocurrencies may continue to flourish even in the wake of greater adoption of formal digital currencies by central banks.

Evidence from countries that have successfully rolled out digital versions of their fiat currencies, shows that the Central Bank Digital Currencies (CBDCs) are not effectively discouraging the use of crypto assets.