CBDCs: Where in the World Are We At?

March 30, 2023

Asilah Al-Mahruqi

Asilah Al-Mahruqi

CBDCs: Where in the World Are We At?

In recent years, we witnessed central banks becoming more and more interested in CBDC to revolutionize their payment ecosystem and effectively satisfy the increasing demand for electronic payments. But where do they stand today, and where in the world are we at with CBDC?

Let’s look at the latest scoop.

93 central banks are today involved in retail CBDC, compared to 63 in 2021(1)
Proof of concepts have gone up from 6 to 16 in the span of 2 years
7 central banks are undergoing advanced research and development
60 central banks are exploring CBDC, compared to 43 in 2021

Launched Projects

Bahamas Sand Dollar
Nigerian eNaira
Jamaican JAM-DEX
All G7 economies are in the development stage of CBDC (2)
18 of the G20 countries are in the advanced stage of CBDC (2)
17 central banks are experimenting with wholesale CBDC (3)
65 central banks expect to issue a CBDC within 10 years (4)

References:

  1. https://kiffmeister.com/2023/03/12/jurisdictions-where-retail-cbdc-is-being-explored-2
  2. https://www.atlanticcouncil.org/cbdctracker
  3. https://kiffmeister.com/2023/01/05/jurisdictions-where-wholesale-cbdc-is-being-explored-3
  4. https://www.omfif.org/wp-content/uploads/2022/12/Future-of-Payments-2022-1.pdf
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