90% of surveyed central banks are exploring CBDCs

90% of surveyed central banks are exploring CBDCs — BIS

Cryptocurrency May 07, 2022 04:00PM ET

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90% of surveyed central banks are exploring CBDCs — BIS

A survey conducted by the Bank for International Settlements, or BIS, suggested that many central banks around the world are looking into rolling out a central bank digital currency, or CBDC.

In a paper released on Friday, the BIS Monetary and Economic Department said 90% of 81 central banks surveyed from October to December 2021 were “engaged in some form of CBDC work,” with 26% running pilots on CBDCs and more than 60% doing experiments or proofs-of-concept related to a digital currency. According to the BIS, the increase in interest around CBDCs — up from roughly 83% in 2020 — may have been driven by a shift to digital solutions amid the COVID-19 pandemic as well as the growth in stablecoins and other cryptocurrencies.

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MD Rubel May 07, 2022 4:20PM ET

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90% of surveyed central banks are exploring CBDCs — BIS

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