Payments efficiency is driving force behind many CBDCs

Inclusion, financial stability and monetary policy are also leading factors

Payments efficiency is viewed as the primary motivation for central banks developing central bank digital currencies (CBDCs), the Fintech 2022 Benchmarks show.

Central Banking asked 33 officials from central banks what their institutions’ motivations were for issuing CBDCs. Twenty-nine responded to this question.

Payments efficiency was reported by a clear majority (83%), followed by financial inclusion (62%), financial stability (41%) and monetary policy (34%). The data allowed institutions

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