CBDC Round-Up

Drive to CBDCs Maintaining Momentum

The Bank for International Settlements (BIS) has surveyed 86 central banks and found over half are conducting concrete experiments or piloting CBDCs. 93% are doing some kind of CBDC work, three percentage points more than last year. At the same time, the number saying they are unlikely to issue a CBDC in the near future has increased driven by the crypto market crash.

Perhaps counter intuitively, work on retail CBDCs is more advanced than on wholesale CBDCs. 15 retail and nine wholesale CBDCs are expected to be issued by 2030. Central banks see potential value in having both a retail CBDC and a fast payment system. Emerging Market Economies are pursuing CBDCs to get more people into the banking system.