There could be 24 CBDCs in operation by 2030: BRI survey

93% of central banks are already conducting research on central bank digital currencies.

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According to a survey by the Bank for International Settlements (BIS), 93% of central banks are already exploring central bank digital currencies (CBDCs), and there could be as many as 15 retail CBDCs and nine wholesale CBDCs. circulation by 2030.

Released on July 10, the survey of 86 central banks was conducted from October to December 2022. It asked central banks whether they worked on a retail, wholesale or both CBDC, how much the work was advanced and what their motivations were. .

Here could be up to 24 active CBDCs by 2030. Source: BIS

According to a survey, more than half of the world's central banks are conducting experiments or working on a pilot project of CBDC. Nearly a quarter of all central banks are already piloting their retail CBDC projects, and the number of wholesale CBDCs underway is far lower.

Geoeconomically, countries in emerging markets and developing economies are leading the adoption of CBDCs. Their share in piloting retail (29%) and wholesale (16%) CBDCs almost doubles that of advanced economies, which stands at 18% and 10%, respectively.

Developing and advanced economies mostly share the motivation behind their CBDC projects: financial stability and efficient cross-border payments. However, developing countries are more often motivated by financial inclusion reasons.

Related: BIS Develops Framework Against CBDC Cyber ​​Attacks

The share of central banks likely to issue a retail CBDC over the next three years has increased from 15% to 18% in 2022. Meanwhile, 68% of central banks still say they are not not ready to issue a retail CBDC soon."

To date, there are still only four CBDCs in circulation: in the Bahamas, the Eastern Caribbean, Jamaica and Nigeria. However, based on...