Artak Manukyan is Board Member of the Central Bank of Armenia (CBA). Prior to joining CBA, he served as a MP. He was also an advisor to the PM of the Republic of Armenia. Throughout his career, Mr. Manukyan has acted as an expert for Armenian branches of TI, WB, ADB, UN, GIZ, World Vision.

The Central Bank of Armenia is Armenia's national bank. Its main objectives are to ensure price and financial stability. In addition to its main objectives, the CBA also has other tasks, including: Regulation of financial services (including payment services, securities market operations, consumer protection, and competition protection), Regulation of money circulation, and etc.

CBDCs motivation and Asset Tokenisation. CBA's experience

This presentation will focus on the motivations behind the launch of a CBDC in Armenia. In particular, it will examine the challenges of cross-border payments, as Armenian banks currently face high costs, slow processing times, and limited operating hours for international transactions. A DLT-based CBDC could improve cross-border payments by enabling faster, cheaper, and 24/7 transactions through automation and enhanced international cooperation. Additionally, offline payment capabilities could expand financial access, especially in areas with limited internet connectivity or banking infrastructure. This would allow individuals to conduct transactions without needing to travel long distances or rely on internet access, thereby improving convenience and promoting financial inclusion.