Majority Of Central Banks Consider CBDCs, Reports BIS

The Bank for International Settlements (BIS) recently released a report indicating that a significant majority of central banks worldwide are contemplating the issuance of central bank digital currencies (CBDCs). According to the report, a staggering 94% of central banks are currently exploring the possibility of introducing a CBDC. This revelation underscores the growing interest and importance of digital currencies in the global financial landscape.

One notable trend highlighted in the BIS report is the preference for wholesale CBDCs over retail CBDCs among central banks. Wholesale CBDCs are digital currencies designed for use within the financial system between financial institutions and possibly corporate clients. The report suggests that central banks are leaning towards wholesale CBDCs as they offer more control over the underlying infrastructure and can potentially enhance the efficiency of financial transactions. Over the next six years, central banks are expected to focus more on developing and implementing wholesale CBDCs compared to retail CBDCs.