One in four central banks are now piloting a retail central bank digital currency (CBDC) that consumers would be able to use to make payments, a survey of central banks around the world conducted by the Bank for International Settlements (BIS) has found.

“Over the course of 2022, the share of central banks engaged in some form of central bank digital currency (CBDC) work rose further, to 93%, and their uncertainty about short-term CBDC issuance is fading,” the survey reveals.

“Work on retail CBDC is more advanced than on wholesale CBDC: almost a quarter of central banks are piloting a retail CBDC,” it adds.

“More than 80% of central banks see potential value in having both a retail CBDC and a fast payment system, mostly because a retail CBDC has specific properties and may offer additional features.

“The survey suggests that there could be 15 retail and nine wholesale CBDCs publicly circulating in 2030.”

• Evelien Witlox, the programme director in charge of the European Central Bank’s digital euro project, reported for NFCW’s Contactless World Congress online event series last month on the current status and next steps in Europe’s digital currency journey.

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