BIS Survey: 18% of Central Banks Will Issue CBDC in “Near Term”

A report published yesterday by the Bank for International Settlements (BIS) unveiled the results of a survey conducted in late 2022 regarding Central Bank Digital Currencies (CBDCs).

Some of the key highlights of the report were as follows:

• Four central banks, including The Bahamas, the Eastern Caribbean, Jamaica, and Nigeria, have already launched live retail CBDCs.
• 18% of surveyed central banks expressed the likelihood of issuing their own retail CBDCs in the near term.
• Various central banks, such as Sveriges Riksbank, the Federal Reserve Bank of New York, and the Reserve Bank of Australia, have published the outcomes of their CBDC experiments in collaboration with the BIS Innovation Hub.
• The Central Reserve Bank of Peru, the Hong Kong Monetary Authority, the Bank of England, the ECB, and the Bank of Canada have launched consultations or published progress reports on potential digital versions of their local currencies.
• Interestingly, Nearly 60% of respondent central banks reported that the emergence of crypto and stablecoins has accelerated their work on CBDCs.

Read the full BIS CBDC report.