Authors: Gayatri Dilip Gohil
Abstract: This research paper examines the transformative impact of digital currencies on cross-border transactions and the broader implications for the global economic landscape. The study analyzes both cryptocurrency-based solutions and Central Bank Digital Currencies (CBDCs), evaluating their potential to reduce transaction costs, increase speed, and improve financial inclusion. Through quantitative and qualitative analysis, the paper demonstrates that digital currencies could reduce cross-border transaction costs by up to 60% and settlement times from days to minutes. However, these benefits must be weighed against regulatory challenges, volatility concerns, and potential disruptions to traditional financial intermediaries. The findings suggest that a hybrid approach combining regulated digital currencies with existing financial infrastructure may provide the optimal path forward for cross-border payment innovation
