Impact of Central Bank Digital Currencies on Corporate Treasury Management: Opportunities and Challenges

Agasthya Khurana

Abstract: The emergence of Central Bank Digital Currencies (CBDCs) presents a transformational development in the financial ecosystem - affecting payments, liquidity, settlement, and risk management. Corporate treasury functions, responsible for managing liquidity, funding, payments and risk, may be significantly impacted by the introduction of CBDCs. This paper examines the potential effects of CBDCs on corporate treasury management, analysing both opportunities (such as real-time settlement, greater transparency, programmability of money, reduced counterparty risk) and challenges (including system/infrastructure changes, regulatory uncertainty, liquidity disintermediation, treasury-bank relationship shifts). A structured framework is developed for treasury decision-makers to assess CBDC adoption implications across key treasury dimensions: liquidity management, payments & settlements, funding & financing, risk management, and organisational capability. The paper further outlines research and implementation issues, offering a roadmap for treasury teams in corporates to prepare for a CBDC-enabled future.

Keywords: Central Bank Digital Currency (CBDC), Corporate Treasury, Liquidity Management, Payments & Settlement, Treasury Risk Management, Programmable Money, Treasury Infrastructure

How to Cite?: Agasthya Khurana, "Impact of Central Bank Digital Currencies on Corporate Treasury Management: Opportunities and Challenges", Volume 14 Issue 12, December 2025, International Journal of Science and Research (IJSR), Pages: 1727-1729, https://www.ijsr.net/getabstract.php?paperid=SR251107113046, DOI: https://dx.doi.org/10.21275/SR251107113046