The report notes that nine out of ten central banks are now exploring the potential of CBDC. In addition, it is expected that the total annual turnover of CBDC could reach $213 billion by 2030. As of the first half of 2023, more than 114 countries, accounting for almost 95% of global GDP, are at various stages of CBDC adoption. At the same time, 11 countries have already fully launched their CBDCs, and 20 are ready to begin large-scale pilot programs.
“The convergence of blockchain and the global shift away from traditional cash transactions has unleashed an unprecedented wave of innovation that has catalyzed research and development in central bank digital currencies. Some central banks view CBDC as a way to maintain control over fiscal and monetary policy, as a measure to ensure the future of their economy,” Ripple analysts write.
According to the report, more than 90% of global financial leaders surveyed expect CBDC to have a significant impact on business, finance and society over the next three years. In addition, 80% of leaders surveyed intend to integrate cryptocurrencies, stablecoins and CBDC into their activities in the near future.
Earlier, Reserve Bank of India (RBI) Governor Shaktikanta Das said that through the introduction of government digital assets, cross-border payments will become safer, faster and more cost-effective.
Source: Bits
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