BIS Chief: CBDCs Will Secure The Future Monetary System
In a speech delivered in Switzerland, Agustin Carstens not only praised CBDCs, but also criticised stablecoins.
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In a speech delivered in Switzerland, Agustin Carstens not only praised CBDCs, but also criticised stablecoins.
The study shows that the number of central banks actively exploring CBDCs has grown from 90% in 2021 to 93% in 2022.
The institution's future monetary vision includes exploring innovations grounded in trust in central banks' stable sovereign currencies and safe payment systems.
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This experimental CBDC platform demonstrates the effectiveness of the design approach used to address three main issues: access, jurisdictional boundaries, and governance.
“Globally, more than two-thirds of central banks believe it is possible for them to issue a retail CBDC in the short or medium term,” the BIS said.
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The researchers from BIS and the World Bank identify common factors across nine central banks that face a variety of different challenges.
“Globally, more than two-thirds of central banks consider that they are likely to or might possibly issue a retail CBDC in either the short- or medium-term,” said the BIS.