BIS: 15 retail CBDCs could emerge by 2030

Fifteen retail central bank digital currencies (CBDCs) could emerge by 2030, according to a survey conducted by the Bank for International Settlements (BIS). Of the 86 central banks surveyed by BIS, 93% are currently working on CBDCs, with major jurisdictions such as India, the UK and the EU all seriously exploring issuing digital versions of their fiat currencies, the study said. Since last year, “global work on CBDCs has progressed further,” with CBDCs seen in emerging economies as a way to help the unbanked, the report said. “If issued, a retail CBDC is expected to complement and co-exist with other domestic payment methods.”