Nine out of 10 central banks are exploring central bank digital currencies (CBDCs), and more than half are now developing them or running concrete experiments, according to the latest BIS survey. In particular, work on retail CBDCs has moved to more advanced stages. Most central banks are exploring central bank digital currencies (CBDCs), and more than a quarter of them are now developing or running concrete pilots. This BIS paper […]
In recent years, emerging market economy (EME) central banks have increasingly engaged in projects related to central bank digital currencies (CBDCs). The stage of their engagement – research, pilot or launch – varies according to differences in country circumstances, including the availability of digital infrastructure, their focus among different policy objectives, and the attendant motivations and concerns, according to a BIS Paper – CBDCs in emerging market economies. This volume contains papers […]
A new paper, commissioned by the Global Financial Markets Association (GFMA), identifies the GFMA’s critical considerations for the success of potential CBDCs in wholesale markets (wCBDCs). Entitled Central Bank Digital Currencies: A Global Capital Markets Perspective, the paper is based on research, as well as extensive interviews conducted with contributing member firms and market participants with particular expertise relevant to CBDCs, during the fourth quarter of 2021. The authors’ recommendations […]