A recent survey by the Bank for International Settlements (BIS) found that 94% of central banks are exploring the creation of a central bank digital currency (CBDC). This represents a significant increase from the 90% reported in a 2021 survey. The survey also highlighted a preference for issuing a wholesale CBDC for institutions first, before considering a retail CBDC for public use. The BIS states that more than half of central banks are considering limits on retail CBDC holdings, interoperability, offline options, and zero remuneration. While stablecoins are gaining traction, they are still rarely used for payments outside the crypto ecosystem. This shift towards CBDCs indicates a growing interest in digital currencies within the global financial system.
Key Points:
94% of central banks are exploring a central bank digital currency (CBDC), according to a recent BIS survey.
The survey found a higher likelihood of issuing a wholesale CBDC for institutions before a retail CBDC for the public.
Central banks are considering factors like holding limits, interoperability, offline options, and zero remuneration for retail CBDCs.
Stablecoins are not widely used for payments outside the crypto ecosystem.
The increasing interest in CBDCs suggests a growing importance of digital currencies within the global financial system.
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