The IMF and DCMA introduce the Universal Monetary Unit (UMU) to reinforce global banking and revolutionize cross-border payments. Read more.
- UMU launched at IMF Spring Meetings 2023, aiming to bolster monetary sovereignty.
- Banks can use UMU to securely connect SWIFT Codes and accounts to digital wallets for real-time cross-border payments.
- UMU features innovative cryptographic technologies, including the Staked Proof of Trust (SPOT) Protocol and AI-powered central banking monetary policy framework.
The International Monetary Fund (IMF) and the Digital Currency Monetary Authority (DCMA) announced the launch of the Universal Monetary Unit (UMU) during the IMF Spring Meetings 2023. Also referred to as Unicoin, the central bank digital currency (CBDC) aims to bolster monetary sovereignty while adhering to the IMF’s recent crypto asset policy recommendations.