94% of Central Banks Are Exploring CBDCs, According to New Bank for International Settlements Survey

A brand new survey from the Financial institution for Worldwide Settlements (BIS) suggests that almost all central banks at the moment are exploring the opportunity of issuing their very own digital currencies (CBDCs).

The BIS surveyed 86 completely different central banks, with 94% of the respondents noting that they have been concerned in some type of CBDC work final yr.

The central financial institution umbrella group notes that almost all respondents have been engaged on each retail and wholesale CBDCs, that are restricted to giant transactions between monetary establishments.

The BIS additionally says the survey signifies that it’s extra doubtless central banks will difficulty wholesale CBDCs within the subsequent six years than their retail counterparts.

“Based mostly on the variety of central banks that indicated that they might be very more likely to begin issuing a CBDC over the following few years, there might be six further retail and 9 wholesale CBDCs publicly circulating in direction of the top of this decade.”

The BIS survey outcomes are much like the numbers reported by the World Financial Discussion board (WEF) in April.

The WEF, a Switzerland-based worldwide group centered on public-private cooperation, famous that greater than 98% of the world’s central banks are “researching, experimenting, piloting or deploying” CBDCs.

The WEF additionally predicted that there might be 24 stay CBDCs by 2030.

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