- The Bank for International Settlements found that 94% of the central banks in its most recent survey were exploring a central bank digital currency.
- The central banks said they would probably issue a wholesale CBDC for institutions before a retail one.
More central banks than ever before are exploring a central bank digital currency (CBDC), according to a Bank for International Settlements (BIS) survey published Friday.
Among the 86 banks that participated, 94% said they were looking at a digital version of their national currencies. That's up from 90% of 81 respondents in a 2021 survey conducted by the BIS, an umbrella organization for the world's central banks.
Respondents also said they're more likely to issue a wholesale CBDC than a retail version within the next six years. A wholesale version would be accessible only to banks and financial institutions, while a retail version could be used by the public for day-to-day life.
"For retail CBDCs, more than half of central banks are considering holding limits, interoperability, offline options and zero remuneration," the BIS said.
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The survey, conducted between October 2023 and January 2024, also found that stablecoins, cryptocurrencies whose value is pegged to a specific asset such as the dollar or gold, are rarely used for payments outside the crypto ecosystem.