CBDC Updates

Denmark

Danmarks Nationalbank has issued a report on digital money including why people in developed nations want CBDCs.

In Denmark just over 10% of physical purchases are made using cash. The people who use and hold cash do so for a variety of reasons but a lack of trust in digital payments is not one of them. Danes have access to instant payments allowing quick and easy movement of money. The central bank also guarantees bank deposits up to a limit. Both of these help with trust in digital money.

Despite that, only 22% of payments use mobile payment tools such as Google Pay and Apple Pay. In a situation where a range of stablecoins fragmented payments, CBDCs might be seen a more secure, including compared to bank deposits.