Are central bank digital currencies gaining momentum in 2023?

The momentum behind Central Bank Digital Currencies (CBDCs) has remained strong in the second half of 2023. New research from our CBDC tracker shows that 130 countries are now exploring a CBDC, representing 98 percent of global GDP. A new high of sixty-four countries are now in the advanced phase of exploration (launch, pilot, or development).

Could central bank digital currencies be the next step?

The next step in this evolution could be central bank digital currencies (CBDCs). CBDCs are already in use today. A total of 11 countries have launched one, and another 21 have pilot programs, according to the Atlantic Council’s CBDC Tracker. A further 79 are developing or researching a digital currency.

What are central bank digital currencies (CBDCs)?

CBDCs are digital currencies issued by a central bank. This article is part of: Centre for Financial and Monetary Systems Central bank digital currencies (CBDCs) are a kind of digital money issued by a central bank, but are not cryptocurrency and would not replace cash.